The Kewl Doodz 'n' Chyx

Saving you from dull moments. Some links may be NSFW!

Wall Street’s Doctor Doom

Posted by Martin Poulter on 10 October 2008

The current financial crisis has made a previously obscure academic essential reading. Business-cycles expert Nouriel Roubini of New York University has been predicting the current disaster since 2006. In February 2008, he wrote an article titled “The Rising Risk of a Systemic Financial Meltdown: The Twelve Steps to Financial Disaster”. So far we’ve been through most of what he predicted, step by step. Updates have continued on his site RGE Monitor, which is a subscription site although free access is currently possible. As of the latest bulletin he is predicting a full-on crash and recession: “The US and advanced economies’ financial system is now headed towards a near-term systemic financial meltdown”. Meanwhile, the Guardian article about Iceland, “the island that tried to buy the world” shows what happens when a whole country lives on credit which suddenly dries up.
To cheer you up a bit, the B3ta boards weigh in on our financial woe.


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