Predicting Crisis: Dr. Doom & the Black Swan!
Ya gotta watch this! Here we have a bunch CNBC talking heads — need I say, clowns? — firing stock-tip questions at two heavyweight economists who are trying to explain to the talking heads the nature of reality! Reality: the world is on the threshold of a total financial collapse, and you ask for stock tips? Sheeesh!
Nouriel Roubini, Dr. Doom: The recession is in danger of becoming L-shaped, rather than U-shaped, meaning it stays a recession for a loong time. Even if we do everything right, i.e., monetary easing, fiscal stimulus, fixing banks, we could still end up with the L-shape. Stock tips? Cash is king!
Nassim Taleb, The Black Swan: People who got us into this mess are still around; they should be thrown out and replaced by people like Nouriel who saw the crisis coming. Stock tips? 100% to 200% in cash!
Go HERE to watch this amazing video.