On CNBC Monday, Nouriel Roubini finally lapsed into incoherence:
When I look at [the economic data] I see so far still more yellow weeds than green shoots. They have to bottom out, in my view they haven’t bottomed out.
OK. I get it. No recovery yet. But then, in his very next sentence he adds:Ă‚
This recovery, unfortunately, because of the debt overhang . . . is going to be a very weak economic recovery, in my view.
So the recovery is on again! Except that there is no recovery, and all those green shoots are really yellow weeds.Ă‚
Which is it, already? In fact, if I read other recent comments from Roubini right, his near-term economic forecast is smack in the middle of the consensus: the economy will resume growth (perhaps “sharp” growth) in the second half, he says. True, over the longer term Roubini is much more bearish. Then again he’s always bearish over the long-term . It’s his marketing M.O.
Remember Neil Diamond? At every single concert the poor guy plays, he has to sing “Sweet Caroline” whether he wants to or not, or run the risk the audience might riot. Roubini is starting to remind me of Neil. In every interview he gives, he has to spout his trademark doom and gloom, regardless of what the data shows, or the reporters will stop calling. The Dr. Doom schtick is getting old. But I’m sure it’s still highly lucrative. . . .Â
What do you think? Let me know!
Thomas Brown
www.bankstocks.com
When I look at [the economic data] I see so far still more yellow weeds than green shoots. They have to bottom out, in my view they haven’t bottomed out.
OK. I get it. No recovery yet. But then, in his very next sentence he adds:Ă‚
This recovery, unfortunately, because of the debt overhang . . . is going to be a very weak economic recovery, in my view.
So the recovery is on again! Except that there is no recovery, and all those green shoots are really yellow weeds.Ă‚
Which is it, already? In fact, if I read other recent comments from Roubini right, his near-term economic forecast is smack in the middle of the consensus: the economy will resume growth (perhaps “sharp” growth) in the second half, he says. True, over the longer term Roubini is much more bearish. Then again he’s always bearish over the long-term . It’s his marketing M.O.
Remember Neil Diamond? At every single concert the poor guy plays, he has to sing “Sweet Caroline” whether he wants to or not, or run the risk the audience might riot. Roubini is starting to remind me of Neil. In every interview he gives, he has to spout his trademark doom and gloom, regardless of what the data shows, or the reporters will stop calling. The Dr. Doom schtick is getting old. But I’m sure it’s still highly lucrative. . . .Â
What do you think? Let me know!
Thomas Brown
www.bankstocks.com
