Roubini: Bear Market Only Half Over, But It's Not Armageddon

This guy calls himself a bear? Listen Nouriel, I've read you for a long time and you're sounding absolutely bullish now by comparison. Stop the nonsense and get back to telling it like it is. THIS IS ARMAGEDDON & YOU KNOW IT!!!!!

I suppose its always darkest before the sun breaks thru...everything in this country depends on cheap energy...from horses to cars, airplanes and trains. Unless we have a source of cheap energy everything will be on hold. With cheap energy our agricultural output provides cheap food...with cheap energy we have excess capital for growth, education and investment and defense. I do not see this country making a super effort to get started on an energy plan for our future. Until that happens forget about everything else.

Uhhh. No. The market is a bear. Which I hope turns bullish!

Things are pretty tough. Too many problems coming together at once. Damage from weather still to be factored as another financial hit.

There is cheap energy. It is called nuclear, wind, solar, coal and many others. Just everytime someone tries to build something, the environmentalist and democrats have a better idea. Still waiting on the better idea. Oh, yeah, their better idea is tax the successful to support the free loaders and whine how the oil companies are making so much. Let's all hold hands and sing, "All we are saying, is give."

community banks, regional banks exposed to RE in areas with 25%+ correction. another 20% to go, huh? sounds about right, although the market will go up 10% from here and then fall another 25% from there.

We ned to factor in weather as part our financial problems. Will banks and thrifts near natural disasters be more likely to fail?

ahhh bahhh. were fine. im sure this guys smart and all but hes a professor for a reason, we all know what that is.

The two (2) problems: 1) Housing and the credit crunch 2) High energy prices As long as these two (2) things don't go away - the problems will not go away. Since there is no leadership in Washington. Hold on to your hats.

Roubini should make more helpful solution to solve economic problems, so that his students at NYU Stern will get jobs after graduation.

How can you compare the current economic with the Great Depression? Is unemployment at 25%? Some U.S. cities during the Depression hit 70%! How many banks have closed? 5 to be exact. Most of the current hysteria is being driven by the media who has unfairly represented the current downturn. Is it really necessary to have a line that stretches for blocks outside a bank that has failed to retrieve your FDIC money? Sensationalized by the media! The U.S. economy will recover sooner rather than later.

there is no recesion unless you live in ca,nv,az and fl.the rest of the country is in very good shape.stop wining because it's all in our minds.things will turn around very fast and in two years we won't even remember this slight slowdawn of 2008.

Their is a huge transfer of wealth due to bad mortgages, inflation, dollar depreciation, high oil. Who gets hurt the worse...the little guy, the saver a medium to low income snook who did everything right but is forced to bail out those who made incredibly bad decisions.,,,the fed, the government, banks, hedge fund managers, over consumption, balance of trade. That is what is causing the recession.

ratdawgbtch - you are as big of a whiner as the democrats. The solution isn't drill drill drill? Perhaps if people can stop their us vs them mentality and actually use that thing on their shoulders for things other than a hat rack we could get a sound energy policy. Nuclear is a bad option, it requires non-renewable resources and has a nasty bi-product. Re-institute the taxes on oil and use that to invest in wind, solar, and even tidal energy resources.

To petrpetr, The rest of the country is in good shape. Have you even ever heard of Michigan? And User: And the professor didn't say the economic problems WERE the next Great Depression, he said it's the worst since. Listen.

This is sickening. These guys were saying that everything couldn't be worse just a week ago. Now they have completely changed their tune. What has changed it the meantime? Absolutely nothing. The market is being dominated by oil prices. Everytime they go up, there is panic. When they go down, the market goes up quickly. My opinion is that the recent oil prices represent a bubble, just like gold in the 1980s when it went up to $800 and quickly receded. I think the same will happen here. Oil has gone up quickly from around $40 to nearly $150. It will again quite quickly settle well below the $100 mark, and the financial stocks will double from what they are now. Note that they went up about 50% in the last week. Don't listen to these people who predict doom and gloom in these times. They are the same ones predicting good times at the height of a boom about to collapse. It seems to be a very good time to buy at the moment - especially cheap housing!

This guy has been more right about this whole housing, sub prime, banking and ultimately broader recession than just about any other economist out there. Certainly not these panels of economists most of whom are employed by financial institutions and have generally been completely adrift on their forecasts basically because they are not paid to deliver bad news. Basicallly I'd say he's got it about right. The fundamentals absolutely stink and will continue to do so for another 12-18 months although there are signs of stabilization in the financial system. As for petrpetr's comment that the problems are all confined to four states he needs to move to OH or MI. I suspect that this bit of pollyanna talk was more the result of his political prejudices than an objective assessment of where the economy is.

This is the Perfect Storm, low interest rates may save the World of Economies

Notice to the small stock investor, cash in your stocks now or you'll be the one left holding the bag, when the stock market crashes in October '08. Your broker will try to convince you that you should stay for the long haul, while he is selling his stock now, before the crash. Let him be the one holding the bag this time, it happened in 1987, and small time investors got left holding up the floor of the market.

Did you know those people who got those checks from the FDIC in that failed Bank in California are not out of the woods yet. I heard that some of those check have holds on them up to 90 days. Makes you want to keep at least a months worth of cash at home and totally get out of the Banks. Can't trust them