amazing video
February 9th, 2009 |“In this clip, Nouriel Roubini and Nassim Taleb are still being treated as a circus sideshow by CNBC… They’re predicting the end of finance, and offering the only clear path out of this mess that I’ve seen offered (with the knowledge to back it up), and CNBC keeps asking them for stock tips. It’s ludicrous. Wall Street media — CNBC at least — doesn’t realize how bad this is yet. They’re stuck in a bubble where they think everything will go back to normal in a few months….”
4 Responses to “amazing video”
Why is this an amazing video?
“… predicting the end of finance…”
Since when was “predicting” all that compelling especially since…predicting (i.e., speculating)… doesn’t seem to have worked all that well when it comes to the market recently, no?
“end of finance” what the hell does that even mean?
“only clear path” is that crystal clear to you? i don’t see the clarity, i’m all fogged up over here on that one
CNBC lunchtime crew – of course they’re tools… that why they are on a lunchtime
Roubini – makes some good points but he’s not doom
Taleb – expect the unexpected… shit happens… yeah, not amazing or profound!
it may not go back to normal, but historically the previous depression was the best time to play the market.
Dead cat bounces, rock.
@Dan Cleary: Why is this an amazing video?
pretty much the CNBC lunchtime crew part…
Since growth is not sustainable, even small growth, this crash is a good thing. Take the world population growth at 1.5% annually. At this rate in 700 years we will have 1 human for ever square meter of land. 700 years is not that long considering the dinosaurs made it 150 million years. To have that kind of staying power you must average 0.000% growth.
The same holds true for markets in the long run. Politicians don’t like to admit this but it is simple math. If you make decisions looking 100’s of years into the future instead of 4-6 you will have totally different strategies. The bailout is a very myopic approach to the problem. Actually, I would argue we don’t have a problem – math is just taking its course.
How about that for gloom and doom?