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ROUBINI: 'Short-Term Bullish, Long-Term Catastrophe'!!!

 
Luisport

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02/22/2013 11:38 AM

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ROUBINI: 'Short-Term Bullish, Long-Term Catastrophe'!!!
Business Insider‏@businessinsider

ROUBINI: 'Short-Term Bullish, Long-Term Catastrophe' [link to read.bi]
Luisport (OP)

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02/22/2013 11:43 AM

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Re: ROUBINI: 'Short-Term Bullish, Long-Term Catastrophe'!!!
NYU economist Nouriel Roubini – known to many by his nickname, "Dr. Doom" – is getting bullish.

Roubini has been pretty negative over the past few months, despite the rally in asset prices and a general turn in sentiment toward the economy and markets on the Street.

Now, it seems like Roubini is finally coming around to the consensus view.

Coincidentally, his latest interview – with Yahoo! Finance's Aaron Task – comes hot on the heels of the biggest sell-off this year, and as Task notes, people like Dennis Gartman are now rushing for the sidelines.

Roubini told Task in the interview:

It's not going to be that we are going to get a rout in the bond market, because the Fed knows that when they exit, they have to exit slowly – and they can hold to maturity.

So, if you're not going to have goods inflation – if you're not going to exit fast enough – then the risk is like during the cycle of 2003-2006, where we're exiting very slowly. It was a measured pace – 25 basis points every six weeks, and we got what? An asset bubble. A credit bubble. A housing, a sub-prime bubble.

So, like Jeremy Stein at the Fed says, we are at the beginning of another credit bubble, because we are going to exit so slowly that the financial excess is not going to go into goods inflation; we're not going to have a bond market rout.

Of course, a financial asset bubble implies good news for stock prices, at least until it bursts. "Off camera, Roubini sums up his analysis of all this as 'short-term bullish, long-term catastrophic,'" wrote Task.

The bottom line for Roubini: "The outcome of it could be a credit bubble that's bigger than the one we had in 2007."
[link to www.businessinsider.com]
Luisport (OP)

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02/22/2013 11:44 AM

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Re: ROUBINI: 'Short-Term Bullish, Long-Term Catastrophe'!!!
Business Insider‏@businessinsider

JPMORGAN'S TOM LEE: Don't Buy Any More Stocks Until The S&P 500 Drops 50-100 Points [link to read.bi]
Luisport (OP)

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02/22/2013 11:48 AM

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Re: ROUBINI: 'Short-Term Bullish, Long-Term Catastrophe'!!!
bump
Anonymous Coward
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02/22/2013 11:57 AM
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Re: ROUBINI: 'Short-Term Bullish, Long-Term Catastrophe'!!!
Has Roubini been right on anything he's said?
Luisport (OP)

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02/22/2013 11:58 AM

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Re: ROUBINI: 'Short-Term Bullish, Long-Term Catastrophe'!!!
Has Roubini been right on anything he's said?
 Quoting: Anonymous Coward 34056369


yes
Luisport (OP)

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02/22/2013 12:19 PM

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Re: ROUBINI: 'Short-Term Bullish, Long-Term Catastrophe'!!!
bump
Luisport (OP)

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02/22/2013 02:49 PM

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Re: ROUBINI: 'Short-Term Bullish, Long-Term Catastrophe'!!!
Business Insider‏@businessinsider

MARKET GURU YELLS 'SELL!' Should You? by @hblodget [link to read.bi]
Anonymous Coward
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02/22/2013 02:50 PM
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Re: ROUBINI: 'Short-Term Bullish, Long-Term Catastrophe'!!!
roubini pretty much sucks