iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,200 Blog Posts

DR. DOOM: A GREATER DEPRESSION IS COMING

I know you passed your series 7 and you manage money for successful people. But you’re an idiot, truly and wholly. Instead of spit-balling from your FEEEEEEEEELINGS, let’s listen to an actual Phd in economics — Dr. Roubini — NYU

In short, we’re fucked. But watch. What do you have to lose? Hang on, I know what you’re going to say: “FUCK THAT GUY HE’S BEEN WRONG FOR A DECADE.”

WRONG and we’ve been rigging like a motherfucker for a decade. This is when you listen to guys like Nouriel because he’s smart and see the risks. Whether we are able to paper over those risks is another story. But he is excellent at telling you what the problems are that need to be addressed.

“THE ECONOMY IS GOING TO CONTINUE TO SURPRISE TO THE DOWNSIDE.”
Part 1

Part 2

If you enjoy the content at iBankCoin, please follow us on Twitter

24 comments

  1. bambam

    Where is he broadcasting from? Hospital room with a ventilator? Him and Schiff always come out about 2-3 weeks before the bottom. At least a clock is right twice a day. That guy needs a MyPillow and a nap!

    • 1
    • 1
    • 0 Deem this to be "Fake News"
  2. acehood

    How much money does he run? Exactly.

    • 1
    • 0
    • 0 Deem this to be "Fake News"
  3. heckler

    Psychic spies from China try to steal your mind’s elation
    And little girls from Sweden dream of silver screen quotation
    And if you want these kind of dreams it’s Coronacation

    It’s the edge of the world and all of western civilization
    The sun may rise in the East at least it’s settled in a final location
    It’s understood that Hollywood sells Coronacation

    https://youtu.be/YlUKcNNmywk

    • 2
    • 1
    • 0 Deem this to be "Fake News"
  4. i_am_nemo

    Schiff, Faber,Roubini et al… are great market callers. You missed a 10 year run if you listened to these guys. This is a black swan event. If it weren’t for covid this market would still be trundling upward.

    • 2
    • 1
    • 0 Deem this to be "Fake News"
    • it is showtime

      Stop with the monolithically dogmatic babble.
      What that 10 year run set-up was a macrosystemic bubble.
      Underneath it was an observable primary-index master algo.
      [Collapse or contraction was prevented multiple times]
      [Collapse or contraction would have otherwise occurred]
      The likelihood that a black swan was prepared or sought,
      For the end of it, was high,
      [Not a forced disruption, as you claim]
      [But a desired or necessary detonation]
      The B I S, the highest global banking authority,
      “warned” of extended valuations, at least 3 times,
      as early as, 2014. So you’re wrong on everything.

      Is the public going to believe the aftermath of the unwind, of that 10 year run, was worth the progression of it, regardless of the benefits and prizes it bestowed?

      • 1
      • 0
      • 0 Deem this to be "Fake News"
      • i_am_nemo

        Nope. Simply a fact. Market gains can’t exceed GDP growth indefinitely. Do an analysis of where the top 30 or 40 market cap stocks would be priced if company buybacks were deducted.

        • 3
        • 0
        • 0 Deem this to be "Fake News"
      • i_am_nemo

        It doesn’t matter what the public thinks. The market does what it does. If you invest or speculate in the stock market you may make money or you may lose money. Sadly, investing in the market is the only way to keep up with real inflation and people are finding out how bad they can get fucked in a month; the last month being a statistical outlier

        Jesse Livermore went from dead broke to a millionaire and back to broke several times before he got tired of it and shot himself.

        • 3
        • 0
        • 0 Deem this to be "Fake News"
  5. tjnyt

    A mathematician with wrong inputs=Disaster.

    • 1
    • 1
    • 0 Deem this to be "Fake News"
  6. heckler

    Alcohol and weed stores still open in WA and starbux drive thru window deemed essential

    • 0
    • 1
    • 0 Deem this to be "Fake News"
  7. i_am_nemo

    Itchy red eyes could be a symptom of covid as well as lack of taste and smell, according to the Miami Herald. It just also happens to be pollen season. My blue truck is solid yellow.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  8. helicopter ben

    Fly, I passed my series 7 at some point, but I assure you: I never managed the money of successful people.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  9. s.k.

    I see Nouriel has emerged from his coffin after another long slumber.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  10. doubleplus

    What I find most troubling (and interesting) about Roubini is that he’s never been completely wrong.

    He’s been extreme, he’s certainly been premature, and he’s made a living off of being dour, but he’s never been overtly and flat out completely wrong. Not over time. OH YES, you say – NOT OVER TIME. Well, motherfuckers, that’s how life works – over time.

    But maybe we were also all wrong. I just would like some fucking irony with my buttered toast.

    • 1
    • 0
    • 0 Deem this to be "Fake News"
  11. acelazlo

    He’s been wrong since Y2K.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  12. i_am_nemo

    Key word to look out for now in the financial media is REORGANIZATION !!!

    That means BK. Keep your powder dry.

    • 1
    • 0
    • 0 Deem this to be "Fake News"
  13. ericbakerbruce

    blah, blah, blah…..and in other news Howard Marks and Seth Klarman are putting cash to work in this environment. Now I manage my own investments, but if I were to chose between Marks, Klarman and Roubini, I would take Klarman. Investing is like changing the oil in a car, anyone can learn and do it…but no one wants to get dirty.

    • 1
    • 0
    • 0 Deem this to be "Fake News"
  14. flea

    He has some interesting thoughts, but I think it’s more his calling card to get CNBC attention. Sounds like a Keynsian, the very one’s who created this mess and not to be trusted to fix it.

    The Covid is only the catalyst for this bear. The underlying conditions (summarized: DEBT) are extreme and the reckoning has started. Note some of the CMBS margin calls – that’s where it starts. Wait til everyone wants their money and counter-parties don’t have it. Actually, you don’t have to wait. It has begun ….

    • 1
    • 0
    • 0 Deem this to be "Fake News"
    • edge

      Thay aren’t Keynesian. That just abuse a few Keynesian principles.
      Don’t forget oil patch debt.
      I’m surprised that the irresponsible use of debt managed to last so long. It was very rugged system, by accident or design, but when stressed beyond its limits was brittle. Breaks into tiny pieces.

      • 1
      • 0
      • 0 Deem this to be "Fake News"
  15. purdy

    I called him Dr Sunshine when you posted his views a month ago. He has since gotten much more concerned …but I only hope that he’s correct now about the ease with which he seems to think we can monetize the printing that he advocates during a lockdown period.

    Also, his hysterical nonsense about foreign boogeymen rigging our elections puts a serious dent into his “independent” thinker reputation. Election rigging is one of the few products that is still produced domestically.

    • 2
    • 1
    • 0 Deem this to be "Fake News"
  16. Bullish

    Roubini is so smart that he’s stupid.

    • 2
    • 0
    • 0 Deem this to be "Fake News"
  17. edge

    Nourial’s time to shine has come. Imagine if he’d nailed it 30 years ago- rock star status.
    Buffet was born at just the right time with just the right ideas for the time. Sometimes genius is a matter of timing.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • flea

      I say let the Buffet’s of the US pick over the pieces of Boeing, the airlines, etc. I’m sure they would be much better managed. F the bailout.

      Practicing ‘creative destruction’ at this point will save us in the long run.

      • 1
      • 0
      • 0 Deem this to be "Fake News"

Leave a Reply