Roubini Says Rogersâs Forecast of $2,000 Gold âUtter Nonsenseâ

Visaria · Aug 3, 2011

Quote from SnakeEYE:

rubini should rape himself
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Actually, would this then mean he would be arrested like Dominique Strauss-Khan as he tried to flee the country?

SnakeEYE · Aug 3, 2011

Quote from Visaria:

Actually, would this then mean he would be arrested like Dominique Strauss-Khan as he tried to flee the country?
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no, he should witness against himself,after that

Visaria · Aug 3, 2011

Quote from SnakeEYE:

no, he should witness against himself,after that
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murray t turtle · Aug 3, 2011

Quote from WallStWhizKid:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aOfwpkHV2clM&pos=5

Nov. 4 (Bloomberg) -- Nouriel Roubini, the economist who predicted the global economic crisis, said a forecast by investor Jim Rogers that gold will double to at least $2,000 an ounce is âutter nonsense.â

There is no inflation or ânear-depressionâ to drive gold prices that high, Roubini said today at the Inside Commodities Conference in New York. If a severe depression came to pass, with investors buying canned goods and hiding out in log cabins, âmaybe you want some gold in that scenario,â Roubini said.

âMaybe it will reach $1,100 or so but $1,500 or $2,000 is nonsense,â Roubini said. Gold rose to a record $1,096.20 today on the New York Mercantile Exchangeâs Comex division on speculation that central banks and investors will purchase the metal to hedge against a declining dollar.

Rogers, who predicted the start of the commodities rally in 1999, said in an interview on Bloomberg Television today that Roubini is wrong about the threat of bubbles in gold and emerging-markets stocks. The price of gold will double in the next decade, he said.

In his New York speech, Roubini repeated his assertion that asset prices have risen âtoo much, too soon, too fast.â Heâs a New York University professor and chairman of New York research and advisory firm Roubini Global Economics.

The S&P-Goldman Sachs Commodity Spot Index is up 47 percent so far this year. Oil has risen 80 percent and gold is up 23 percent. The U.S. economy grew 3.5 percent in the third quarter after shrinking since the second quarter of 2008. Government incentives that spurred consumers to buy homes and cars boosted the recovery, the Commerce Department said on Oct. 29.

Justifying Prices

âIt is very hard to justify oil going from $30 to above $80 based only on the fundamentals of supply and demand,â Roubini said. Prices are âin partâ a bubble, he said.

Position limits on oil trading, if they helped reduce volatility, may be âbeneficialâ because the swings in oil prices have been âdestructiveâ to the global economy, Roubini said.

Roubini predicted in 2006 the financial crisis that spurred more than $1.6 trillion of credit losses and asset writedowns at global financial companies.
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Mr. Walltreet Wk;
thanks

Mr Mike Marcus we know[of],
Rich Dennis we know[0f]. But who is Mr. Rabbitini?????

Its headed towards $4,444.44;
not a prediction simply the long term trend direction.

Any correlation between gold & U$D is not a very high correlation;
however if interest rates in a FDIC deal goes to 17%, some may sell gold, some would not sell gold.LOL

Looks like the USA was damaged a bit, FAA took a huge hit, tax cut LOL-downgraded debt perhaps coming. GLD, gold may shine. Why even silver, SLV may be in a stealth bear market rally, short term.

None of this is a prediction;
simply probabilities

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Roubini Says Rogersâs Forecast of $2,000 Gold âUtter Nonsenseâ

Visaria

SnakeEYE

Visaria

murray t turtle

Roubini Says Rogersâs Forecast of $2,000 Gold âUtter Nonsenseâ