On Nouriel Roubini's Global EconoMonitor, Nouriel Roubini warns that the worst in markets and economies is yet to come. On October 23rd, Nouriel predicted the potential shutdown of financial markets. A day later U.S. stock futures suspended trading after declines of more than 6% at opening tripped the circuit breakers. Nonetheless, Nouriel does not expect another Great Depression, but states that policymakers must act quickly and wisely.
last week, I noted the hubris of Roubini, and again this post shows the same thing, as the RGE monitor tries to convince itself, and it's "Believers" that the new Economic Jesus was actually correct, and that Hitting the limit down on the futures somehow Redeems his prediction of "THE SHUTDOWN OF FINANCIAL MARKETS" even though, the prediction was for, 'a couple weeks'. I'll also note that; we did not hit the Circuit Breakers, as this reports. Just to make sure we are parsing language properly, the Word However is an adverb, and refers to the Prediction. Therefore clearly interpreted "we were correct in the shutdown of the markets, however He does not expect another Great Depression. and would not be interpreted as "We were wrong about our prediction, however our other prediction will be true."
That is the smug smirk of hubris.
Again... he does have some very important accurate analysis.
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