Tuesday, January 20, 2009

re Roubini comment

I think that US markets lost about 1 trillion market value today while shorters made fortune.

BKX completed 3 peaks and a dome house.
http://trend-signals.blogspot.com/2009/01/bkx-2534.html

Roubini must have not heard what I said, in Jan 2006, that we will have financial melt down due to ARM/housing bubble.
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Roubini: U.S. Banking System Insolvent, Another $2.5T of Losses Coming

A couple of years ago, when Nouriel Roubini predicted that U.S. financial-system losses would total $1 trillion, everyone thought he was insane. He has since revised his estimate. Now he's looking for $3.6 trillion:

Bloomberg: U.S. financial losses from the credit crisis may reach $3.6 trillion, suggesting the banking system is “effectively insolvent,” said New York University Professor Nouriel Roubini, who predicted last year’s economic crisis.

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