Hate to say it but after reading your post the words "simple mind" came to me. Read up on fiat money and what happens when confidence is lost in it and how our whole "capitalistic" systems relies on confidence and growth, both of which are going to be in very short supply, very soon.
You guys have to learn a couple of things about socialist fools. 1. They are always predicting the end of the capitalistic system, and are always recommending government intervention to avoid the end of the world as we know it. 2. When the government causes a crisis through their foolish policies and interventions (they always do), these socialist fools always ask for more and more intervention. They do not care that those policies are either the cause of the problem, or, they are totally ineffective, as we are witnessing right now.
To a large extent, the capitalistic system has ended already. Nothing to predict there. A Wall Street banker walks down the street and buys a hot dog from a street vendor. Who's the REAL capitalist? The hot dog vendor or the Wall Street banker? Which of the two traditionally has the most money? Why?
Sounds like populist garbage aimed at the ne'er do wells of society that don't contribute anything anyway.
and now we will celebrate the wealth of Cuba/venezuela and Russia pre-crisis! Roubini has been great to figure out the mess but now he is just shouting and riding his moment...why not saying now that the dollar gained 15% and the oil price crashed...there is now a rebalancing in favour of the USA and asset prices are much better if you can invest...moreover housing is becoming more affordable...flexibility is the winning word and they have more in the USA vs the rest of the world....btw, why Mr. Roubini is shouting now that you have the "once in a live" buying opportunity?? probably because he is just riding the scaremonger role and want to profit the more as he can...the wolrd has nopt stopped but is offering oopportunities...for the peole CASH RICH, of course....not me unfortunately! but, pls..stop the scaremongering! the crisis is for HFs, Private equity, leveraged finance bankers....these guys have to give it back, not the seriuos investors- best, peppuzz
Sure, people that mop floors, pick up trash, mow lawns, stock shelves at stores, take your order at fast food restaurants - working 10+ hour days holding several jobs - those are the evil lazy people. Traders of Credit Default Swaps are the salt of the earth - without them society can't function. Look, I'm no commie, but you have to admit, Castro and Hugo Chavez have nothing on Wall Street and Wall Street's tools Paulson and Bernanke.
Those trading or investing on Nouriel Roubini's recommendations deserve to lose all their money and then some.