I started this blog in June 2007 asking these questions: Are we in a massive asset bubble that will blow up in our faces ??? - ANSWERED YES ! Is western and particularly British society on the verge of social collapse??? What are the best common sense long term investment strategies to keep you rich? When will consumption/debt bubble economics end and a real savings/production economy begin ???

Wednesday, 11 February 2009

Dr. Doom & Black Swan: You Ain’t Seen Nothin’ Yet

Nouriel Roubini and Nassim Taleb are widely credited with predicting the current financial crisis, and both told CNBC they see more rough waters ahead.

Even if we play our cards right, said Roubini, chairman of RGEMonitor.com, it will take at least 12 months to get out of this recession.

“If you don’t do everything right, and I think there’s a large probability that’s going to happen, then we may end up in a multi-year stagnation or near depression like the one that Japan had,” he added.

Roubini said there is still a 20 percent downside risk to U.S. global equities, and he advises investors to stay in cash until there is a real bottom.

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