Enough people knew and saw it coming and zero economists bat .1000.CAA Flagship wrote:Excuses? I blame the banks. And I blame the lack of oversight.kalm wrote:
Historian Neil Ferguson, economists Nouriel Roubini and Ravi Batra, and number of others saw the danger with in CDO's and the derivatives market before the fall. Not to mention there were those who were betting on it happening. They knew. Quit making excuses for shitty legislation, shitty punditry, and shitty leadership.
I'm just saying that very few knew how bad things were. It all had to be unwound to determine the real damage.
At any given time, there are people predicting things going in all directions possible. Some of them will be right. They will have to be around a long time to be right multiple times (i.e. the broken clock).
Nouriel Roubini
Dec 20, 2014https://www.firstpost.com/world/how-ser ... 59685.htmlEconomist Nouriel Roubini is back on the circuit with his Doomsday predictions. In an interview to WSJ.com, 'Dr Doom' prophesies that there is now a greater than 50 percent risk of a global recession, and that this is not the time to be invested in risky assets.
Ravi Batrahttps://uk.finance.yahoo.com/news/book- ... 00751.html"2016 is going to be a year of the climax," says Batra, an economics professor at Southern Methodist University in Dallas. "It will be a year in which a revolution begins against the rule of money, leading to economic reforms by 2018. After that a golden age starts and is in place around the end the decade."
https://www.speakfreely.today/2018/08/14/64729/Economist Ravi Batra reached the number one on The New York Time Best Seller List in 1987 thanks to his book The Great Depression of 1990. From the title, one can easily infer what was the main thesis of the book, namely: An economic crisis is imminent, and it will be a tough one. Fortunately, his prediction failed to come true. In fact, the 1990s was a period of relative stability and strong economic growth, with the US stock market growing at an 18 percent annualized rate. Not so bad for an economic depression, right?
Hubris, greed, and ideological approach to new-liberal economics are what took us over that cliff. Not a lack of awareness or information.









