Wednesday, October 22, 2008

Nouriel Roubini speaking – please watch as he had been on the ball for a long time

The Unfolding Financial Crisis

One of the best bears in the world speaks - he may be right he may be wrong.

Posted by submedia @ 04:52 PM (1395 views)
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10 thoughts on “Nouriel Roubini speaking – please watch as he had been on the ball for a long time

  • The best bears in the world? :-).

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  • California and Florida property going for 30cents on the $ – wow 70% HPC. JU – looking good on your predictions if that happens over here.

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  • The entry above this is part 1 of the interview. I didn’t make it to clear be saying as below. Sorry.

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  • Interesting they are talking about holding cash despite the short term risk of it being eaten into by inflation. This being the better option. And there was me arrying about Gold, pensions blah blah blah.

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  • Not sure why some are so concerned with gold in a deflation.

    Japan has been in deflation mode for some years now but the gold price in Yen has risen by 134% over the last 10 years.

    So, where is this gold goes lower in deflation argument coming from ?

    Cash is not king. Gold is a global currency and is NO 1. Like or not.

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  • japanese uncle says:

    layers

    Be in no doubt.

    Housing bubble during 1997-2007 UK is probably the most vicious one in history, much worse than those in Japan (1985-1990) and US.
    60%HPC on nominal basis ie more than 70%HPC on real terms is much more probable than possible.

    Incidentally though I was thinking that housing bubble would emerge again in the UK circa 2020, things may well be different thanks to the development of the internet. People can and will be able to refer to the past facts including newspaper articles, comments, stats, etc in a split of a second. You will be able to kill off the comments of future property charlatans just by referring to our experience during this bubble. This could be the last housing bubble in UK, hopefully.

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  • debtfree
    what % of your portfolio are you carrying in Gold.
    and what was your chosen form of purchase
    and being nosey, when did you get into gold and at what level ?

    Just interested.

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  • JU this will not be the last property bubble.

    Most ‘normal’ people still don’t understand; fractional reserve banking, money supply, money as debt, inflation, compound interest, the exponential function etc etc… All they understand is what they want and can they get it,as long as monthly payments are less than disposable income (and sometimes this isn’t the case) then the amount borrow might as well be jelly beans not pounds.

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  • matt_the_hat, true, but all we need is a critical mass of people who understand that the state in its current form is a wealth extraction system for an elite. Once that mass of awareness is achieved, and I think it is growing quickly, change will happen. The elite will have to step back. Notice how Sarkozy has started talking about a “financial government”. Elected by whom I wonder – ah yes, unelected financers and bankers.

    http://www.theaustralian.news.com.au/story/0,25197,24534492-12335,00.html

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  • Very interesting interview, is anyone in the UK government listening?

    Very well argued. “Employment rates will contract in advanced economies”.

    The US is in deep trouble – so what does that say about the £ falling against the dollar?

    General consensus – don’t buy stocks yet!

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