"Economics is not called the dismal science for nothing. While the public might be impressed by Nostradamus-like predictions, economists want figures and equations."
The above is from the article about and on Roubini's latest (another doom sayer - who has got things right! LOL) in which he predicts the worst is yet to come and:
“It’s been a slaughter, day after day after day,” said Roubini. “Markets are dysfunctional; they are totally unhinged.” Economic fundamentals no longer apply, he believes.
“Even using the nuclear option of guaranteeing everything, providing unlimited liquidity, nationalising the banks, making clear that nobody of importance is going to be allowed to fail, even that has not helped. We are reaching a breaking point, frankly.”
He believes governments will have to come up with an even bigger international rescue, and that the US is facing “multi-year economic stagnation”.
