Nouriel Roubini: I fear the worst is yet to come - Times Online: "For years Dr Doom toiled in relative obscurity as a New York University economics professor under his alias, Nouriel Roubini. But after making a series of uncannily accurate predictions about the global meltdown, Roubini has become the prophet of his age, jetting around the world dispensing his advice and latest prognostications to politicians and businessmen desperate to know what happens next – and for any answer to the crisis...What does Roubini think is going to happen next? Rather worryingly, in London last Thursday he predicted that hundreds of hedge funds will go bust and stock markets may soon have to shut – perhaps for as long as a week – in order to stem the panic selling now sweeping the world. What happened? The next day trading was briefly stopped in New York and Moscow."
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I must say that in most of his photos he projects a certain sense of foreboding. It would be nice to dismiss him as too dismal even for the dismal science. But then he turns out to be right about everything that has happened. The main quibbles are that the collapse happened later than he predicted, and he doesn't have hard core numbers to back up his predictions because he uses unorthodox methods. So what? He was right.

And now he says the worst is yet to come because the measures taken by governments so far have not worked, and the markets have lost faith in the ability of governments to fix things. Scary stuff. Sure hope he's wrong this time.