Oh, Great, Dr. Doom Is Downcast

[rayboyusmc]

No one really understands the economy here and how it is intertwined with the global economy. Lot of theories, no reality.

If a butterfly farts in Japan does a day trader panic in New York?

Fed Chairman Bernanke raised eyebrows (and, briefly, the market) last week when said there's a "reasonable prospect" the economy will bottom this year and be in recovery in 2010.
But Berkshire Hathaway's Warren Buffett disagrees: The economy "will be in shambles throughout 2009 and...probably well beyond," the Oracle of Omaha declared this weekend.

In sum, Buffett and much of the rest of humanity are just now coming around to Nouriel Robuini's way of thinking, the economist known as "Dr. Doom" is upping the ante on his longstanding bearish views.

A year ago Roubini was forecasting an 18-month recession with a U-shaped recovery; now, he's now expecting the downturn to last at least 24 months and possibly 36-months. He also sees rising risks of a Japanese-style L-shaped stagnation, i.e. a prolonged period with little or no economic growth.

"I was one of most bearish people [but] the economy has surprised the bears on the downside," says Roubini of NYU's Stern School and RGE Monitor. "What's happening in the world now is scary."

http://finance.yahoo.com/tech-ticker/article/197164/Even-%27Dr.-Doom%27-Is-Scared-Economy-Much-Worse-Than-Roubini-Predicted?tickers=^dji,^gspc,QQQQ,DIA,SPY

 

[WillowTree]

falling falling falling falling

 

[Sinatra]

No one really understands the economy here and how it is intertwined with the global economy. Lot of theories, no reality.

If a butterfly farts in Japan does a day trader panic in New York?

Fed Chairman Bernanke raised eyebrows (and, briefly, the market) last week when said there's a "reasonable prospect" the economy will bottom this year and be in recovery in 2010.
But Berkshire Hathaway's Warren Buffett disagrees: The economy "will be in shambles throughout 2009 and...probably well beyond," the Oracle of Omaha declared this weekend.

In sum, Buffett and much of the rest of humanity are just now coming around to Nouriel Robuini's way of thinking, the economist known as "Dr. Doom" is upping the ante on his longstanding bearish views.

A year ago Roubini was forecasting an 18-month recession with a U-shaped recovery; now, he's now expecting the downturn to last at least 24 months and possibly 36-months. He also sees rising risks of a Japanese-style L-shaped stagnation, i.e. a prolonged period with little or no economic growth.

"I was one of most bearish people [but] the economy has surprised the bears on the downside," says Roubini of NYU's Stern School and RGE Monitor. "What's happening in the world now is scary."

http://finance.yahoo.com/tech-ticker/article/197164/Even-%27Dr.-Doom%27-Is-Scared-Economy-Much-Worse-Than-Roubini-Predicted?tickers=^dji,^gspc,QQQQ,DIA,SPY

And yet watch Mr. Buffet scoop up hundreds of millions of dollars worth of discounted shares of various corporations following his announcement.

The old man is a sly one...

 

[auditor0007]

No one really understands the economy here and how it is intertwined with the global economy. Lot of theories, no reality.

If a butterfly farts in Japan does a day trader panic in New York?

Fed Chairman Bernanke raised eyebrows (and, briefly, the market) last week when said there's a "reasonable prospect" the economy will bottom this year and be in recovery in 2010.
But Berkshire Hathaway's Warren Buffett disagrees: The economy "will be in shambles throughout 2009 and...probably well beyond," the Oracle of Omaha declared this weekend.

In sum, Buffett and much of the rest of humanity are just now coming around to Nouriel Robuini's way of thinking, the economist known as "Dr. Doom" is upping the ante on his longstanding bearish views.

A year ago Roubini was forecasting an 18-month recession with a U-shaped recovery; now, he's now expecting the downturn to last at least 24 months and possibly 36-months. He also sees rising risks of a Japanese-style L-shaped stagnation, i.e. a prolonged period with little or no economic growth.

"I was one of most bearish people [but] the economy has surprised the bears on the downside," says Roubini of NYU's Stern School and RGE Monitor. "What's happening in the world now is scary."

http://finance.yahoo.com/tech-ticker/article/197164/Even-%27Dr.-Doom%27-Is-Scared-Economy-Much-Worse-Than-Roubini-Predicted?tickers=^dji,^gspc,QQQQ,DIA,SPY

And yet watch Mr. Buffet scoop up hundreds of millions of dollars worth of discounted shares of various corporations following his announcement.

The old man is a sly one...

Those with cash in severely depressed times become extremely wealthy. Just wait until real estate has bottomed out, then watch who starts buying it all up.

 

[Mad Scientist]

Those with cash in severely depressed times become extremely wealthy. Just wait until real estate has bottomed out, then watch who starts buying it all up.

Unless the government printed up trillions of new dollars for additional future spending thus driving the value of said dollar in the tank.