Comments on: The post-bubble world: what’s next? Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 By: Pete_Murphy Fri, 08 Oct 2010 11:34:21 +0000 What’s next is another bubble. The only question is where.

By: doctorjay317 Thu, 07 Oct 2010 01:47:06 +0000 Gotthardbahn

Give Roubini a break, and credit.

The housing collapse occured not because he predicted it.

More gloom and doom are coming, whether you like it or not.

U.S. administrators let loose the monster and now have absolutely no idea on how to restrain it.

God bless America.

By: ptiffany Wed, 06 Oct 2010 19:51:05 +0000 In early 2005, my boss, Angelo Mozilo frequently predicted a mortgage-led recession and the Mortgage Bankers Association picked it up with predictions of over 80,000 people in the mortgage industry expected to lose their jobs by the end of 2005. The timing was off when Countrywide Home Loans was unexpectedly successful at selling huge numbers of refis and Home Equity Lines of Credit (HELoCs), increasing the debt load. Mozilo also pushed hard for subprime loans, expanding the debt even more. The Collateralized-Debt Obligations packaged by Fannie Mae and Freddie Mac and the Credit Default Swaps (CDSs) of AIG also fed the gambling house-of-cards.

So, when did Roubini “predict” the housing collapse?

BTW, thousands of people in the mortgage industry were well aware that millions of high-risk loans were being sold, encouraged by Wall Street with the backing of Moody’s (on of Warren Buffet’s companies) and S&P with triple-A rated junk. Without the triple-A rating, most institutional investors such as big pension funds would have been prevented from buying financial crap.

Of course, this was highly subsidized by various government policies such as the biggest deduction ever – the mortgage interest (and fees) deduction.

By: txgadfly Wed, 06 Oct 2010 19:38:57 +0000 These speakers all treat the USA as unitary while it most certainly is not. The USA has never been even remotely as fragmented ethnically and racially and politically as it is today. These fragments are all different from one another in being impacted by the current economic downturn.

The potential for civil strife in the USA is higher than it has been in over a century. That should not be discounted.

By: Plunkett Wed, 06 Oct 2010 19:02:28 +0000 For some positive thoughts on the future, see 4+05-Oct-2010+BW20101005

By: Gotthardbahn Wed, 06 Oct 2010 18:28:05 +0000 I can’t predict the future – in truth, no one can, although that doesn’t stop people from trying – but I will go on record with this: Nouriel Roubini, the guy who allegedly predicted the housing collapse, will be all gloom and doom in this panel discussion; endless gloom and doom in this panel discussion; relentless gloom and doom in this panel discussion. For a break from his gloom and doom-mongering, he may perhaps tout his most recent book, detailing his gloom-and-doom scenarios more fully. Find it online or at your favourite bookseller!