Wednesday, October 8, 2008

Great Roubini Videos re: the Recession from Tech Ticker

This guy predicted this economic debacle two years ago. People laughed at him then.....Last year people paid ATTENTION to him as things began to unravel and nowadays everyone in places of power are listening to his every word.

Worth the listen....He now predicts another 20% drop through next year. "Things are worse than I imagined" per his comments...

He then predicts a 2 year recession, with main street following the financial crisis. He has some VERY sound economic datapoints.

Finally, another big bank institution could go insolvent per his comments. Citibank appears to be his guess. I don't think there is a CHANCE IN HECK that Citibank will be allowed to buy Wachovia given their financial straits. Wells Fargo is the likely winner then....

Dan Ross

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