Is Nouriel Roubini a False Prophet? A simple way to keep these pikers off the news waves is to force them to ante up a significant amount of their net worth in a trade that reflects whatever garbage they're predicting. If he sees higher rates, then force him to short the bond market. He would've gotten crushed in '07. And once you get crushed, you stick to CNBC as they only require you to wear a suit; brain not required. A follow up to that article: Techniques Used by False Prophets and Charlatans
How come if someone predicts doom & gloom they get thrown into the Piker or false prophet category. Why cant the same be said for the sunshine and rainbows crowd, so they should put up a significant amount of their net worth in a trade. Oh wait...that happened when they lost their asses in 2008
This is isn't a matter of free speech, it's holding these people responsible. This also would apply to analysts, talking heads, etc... What's wrong with putting your money where your mouth is? Hell, maybe you wouldn't have these boom and busts if the Pied Pipers had more exposure to the garbage they were selling.
Roubini has been right so far and way ahead of actual events so i would say he has so far been a quite accurate leading indicator.
Here's a sample of the bulls: Barron's - 2008 A Bullish Call ? Check out the last guy's prediction: S&P500 at 1750 in 2008, favorite sector Financials Tie the net worth of these people to their calls and let's see how long they last. We'll see how many people want to be an analyst or want to go on CNBC.