BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[U.S. Futures Up Ahead of Payroll Data]]>http://www.bloggingstocks.com/2011/04/01/u-s-futures-up-ahead-of-payroll-data/http://www.bloggingstocks.com/2011/04/01/u-s-futures-up-ahead-of-payroll-data/http://www.bloggingstocks.com/2011/04/01/u-s-futures-up-ahead-of-payroll-data/#commentsU.S. stock futures are higher Friday morning, as investors await nonfarm payroll figures at 8:30 a.m. ET. Futures on the Dow Jones Industrial Average surged 49 points to 12,301.00 and futures on the S&P 500 stock index gained 5 points to 1,326.00. Nasdaq 100 futures added 11.75 points to 2,348.00.

Positive sentiment ruled the European markets today. While STOXX Europe 600 Index has gained 0.75%, London's FTSE 100 Index moved up 0.82%.

Most Asian markets ended higher, with Japan's Nikkei Stock Average dropping 0.48%, Australia's S&P/ASX 200 moving up 0.53% and China's Shanghai Composite gaining 1.35%. Hong Kong's Hang Seng Index rose 1.17%.

Continue reading U.S. Futures Up Ahead of Payroll Data

U.S. Futures Up Ahead of Payroll Data originally appeared on BloggingStocks on Fri, 01 Apr 2011 08:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>allAllstatefeaturedIntercontinentalExchangeirelandIrishBanksnasdaq omxndaqnouriel roubiniNYSE EuronextnyxFri, 01 Apr 2011 08:30:00 EST<![CDATA[NYU's Roubini: U.S. Can't Run Massive Deficits Forever]]>http://www.bloggingstocks.com/2010/05/21/nyu-s-roubini-u-s-can-t-run-massive-deficits-forever/http://www.bloggingstocks.com/2010/05/21/nyu-s-roubini-u-s-can-t-run-massive-deficits-forever/http://www.bloggingstocks.com/2010/05/21/nyu-s-roubini-u-s-can-t-run-massive-deficits-forever/#commentsFiled under: ,

RoubiniNew York University Economics Professor Nouriel Roubini, who accurately predicted the subprime mortgage default-induced financial crisis more than a year before it hit, is now cautioning the U.S. to not assume that the next stage of the financial crisis cannot return to U.S. shores.

"Bond market vigilantes have already woken up in Greece, in Spain, in Portugal, in Ireland, in Iceland, and soon enough they could wake up in the U.K., in Japan, in the United States, if we keep on running very large fiscal deficits," Roubini told Blooomberg News. "The chances are, they are going to wake up in the United States in the next three years and say, 'this is unsustainable.' "

Continue reading NYU's Roubini: U.S. Can't Run Massive Deficits Forever

NYU's Roubini: U.S. Can't Run Massive Deficits Forever originally appeared on BloggingStocks on Fri, 21 May 2010 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>budget deficitdebt crisisfeaturedinthenewsNouriel RoubiniFri, 21 May 2010 18:00:00 EST<![CDATA[Nouriel Roubini Feels European Crisis Isn't Over]]>http://www.bloggingstocks.com/2010/05/18/nouriel-roubini-feels-european-crisis-isnt-over/http://www.bloggingstocks.com/2010/05/18/nouriel-roubini-feels-european-crisis-isnt-over/http://www.bloggingstocks.com/2010/05/18/nouriel-roubini-feels-european-crisis-isnt-over/#commentsFiled under: ,

New York University professor Nouriel Roubini, often dubbed Dr. Doom, has given his analysis of the financial issues in Greece and Europe, and I am not sure that his comments are welcome. Roubini told the BBC that the crisis is "not over" and that the situation in the eurozone "is a second stage of a typical financial crisis."

Roubini noted that the EU's rescue package has not calmed the markets and he worries that the governments are not "strong enough to implement the austerity measures required."

Continue reading Nouriel Roubini Feels European Crisis Isn't Over

Nouriel Roubini Feels European Crisis Isn't Over originally appeared on BloggingStocks on Tue, 18 May 2010 09:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Dr. DoomEurozonefeaturedGreeceGreek crisisinthenewsNouriel RoubiniTue, 18 May 2010 09:40:00 EST<![CDATA[Roubini Warns About Recovery, Praises Obama]]>http://www.bloggingstocks.com/2010/01/27/roubini-warns-about-recovery-praises-obama/http://www.bloggingstocks.com/2010/01/27/roubini-warns-about-recovery-praises-obama/http://www.bloggingstocks.com/2010/01/27/roubini-warns-about-recovery-praises-obama/#commentsFiled under: ,

Over in Davos, Switzerland, Dr. Nouriel Roubini continues to live up to his nickname, Dr. Doom. According to MarketWatch, the New York University economist said in a crowded gathering that developed economies will see a slowdown in the recovery in the second half of the year. The panel of high-profile economists and investors believes that we need to proceed with caution, but the panel was "more upbeat" than last year.

Specifically, Roubini believes that labor conditions in the United States and other developed countries remain weak. He feels that the U.S. and other governments need to start the process of trimming deficits and cutting debt. If this scenario does not play out, Roubini feels that we could see a rise in interest rates that could "crowd out investment."

Continue reading Roubini Warns About Recovery, Praises Obama

Roubini Warns About Recovery, Praises Obama originally appeared on BloggingStocks on Wed, 27 Jan 2010 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Dr. Doomeconomic recoveryeconomyfeaturedfinancial recoveryinthenewsNouriel RoubiniWed, 27 Jan 2010 10:00:00 EST<![CDATA[Dr. Doom Nouriel Roubini believes the bubble is about to burst]]>http://www.bloggingstocks.com/2009/11/10/nouriel-roubini-believes-the-bubble-is-about-to-burst/http://www.bloggingstocks.com/2009/11/10/nouriel-roubini-believes-the-bubble-is-about-to-burst/http://www.bloggingstocks.com/2009/11/10/nouriel-roubini-believes-the-bubble-is-about-to-burst/#commentsFiled under: , ,

Dr. Doom is back. Last week, New York University economist Nouriel Roubini decided to speak out about the current economic recovery, warning that it cannot last. I'm not quite sure how this blog missed my radar screen, so I must thank Robert J. Samuelson for bringing it to my attention yesterday.

Roubini contends that while there was a massive rally in "all sorts of risky assets" has caused the dollar had weakened sharply and government bond yields have "increased but stayed low and stable." These risky assets that Roubini discusses are equities, oil, energy, and commodity. Dr. Doom believes that the prices for these risky assets have risen too far and too fast compared to macroeconomic fundamentals.

Continue reading Dr. Doom Nouriel Roubini believes the bubble is about to burst

Dr. Doom Nouriel Roubini believes the bubble is about to burst originally appeared on BloggingStocks on Tue, 10 Nov 2009 10:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bubbledotcomDr. Doomeconomic recoveryfeaturedFederal Reservehousing bubbleinthenewsNouriel RoubiniTue, 10 Nov 2009 10:30:00 EST<![CDATA[Cramer on BloggingStocks: Housing stocks are key to this market ]]>http://www.bloggingstocks.com/2009/10/05/cramer-on-bloggingstocks-housing-stocks-are-key-to-this-market/http://www.bloggingstocks.com/2009/10/05/cramer-on-bloggingstocks-housing-stocks-are-key-to-this-market/http://www.bloggingstocks.com/2009/10/05/cramer-on-bloggingstocks-housing-stocks-are-key-to-this-market/#commentsFiled under: ,

TheStreet.com's Jim Cramer says stocks connected to the sector will take it on the chin if the housing index falls further.

A perusal of the charts this weekend shows something surprising: The weakest group out there has been the homebuilders for several weeks now. KB Home (NYSE: KBH) (Cramer's Take), D.R. Horton (NYSE: DHI) (Cramer's Take), Lennar (NYSE: LEN) (Cramer's Take), and Toll Brothers (NYSE: TOL) (Cramer's Take) have simply been a horror show. What's going on here? How can these stocks be so dangerous when mortgage rates have crashed through 5%, the level that every banker I talk to says mortgages jump off the table and refinancings rush to be done.

What's going on? This group's tracking more than just mortgage rates. It's tracking employment and news flow and both are terrible.

Continue reading Cramer on BloggingStocks: Housing stocks are key to this market

Cramer on BloggingStocks: Housing stocks are key to this market originally appeared on BloggingStocks on Mon, 05 Oct 2009 10:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BDKcash for clunkersDHIDR HortonsemploymentfeaturedFOFordFortune BrandsHGXhomebuyershousingJim CramerKB HomeKBHLENLennarMASMascoNouriel RoubiniTOLToll BrothersMon, 05 Oct 2009 10:40:00 EST<![CDATA[Waiting for Roubini will cost you!]]>http://www.bloggingstocks.com/2009/07/27/waiting-for-roubini-will-cost-you/http://www.bloggingstocks.com/2009/07/27/waiting-for-roubini-will-cost-you/http://www.bloggingstocks.com/2009/07/27/waiting-for-roubini-will-cost-you/#commentsFiled under: , , , , ,

He was two years early and now he might be two years late. His facts were right. His timing was off, and I think if you wait for the illustrious NYU professor Nouriel Roubini to give the "all clear sign" you will miss even more of the market upside than you have missed already.

On February 18 of this year I wrote Buffett says buy, then sells, Roubini says wait -- what's an investor to do? -- and it will make interesting reading today. After all it was about three weeks before the market really hit bottom, and I called that, too, posting on March 9: Nostradamus was a punk! Have we reached bottom? -- a lucky call for sure. However, the number of folks thinking the world was coming to an end seemed like the ultimate capitulation.

Continue reading Waiting for Roubini will cost you!

Waiting for Roubini will cost you! originally appeared on BloggingStocks on Mon, 27 Jul 2009 14:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BRK.Aeconomic forecastfeaturedNouriel Roubinisheldon liberWarren BuffettMon, 27 Jul 2009 14:20:00 EST<![CDATA[Before the bell: Stocks poised to drop following Alcoa's disappointing earnings]]>http://www.bloggingstocks.com/2009/04/08/stocks-look-poised-to-drop-following-alcoas-disappointing-earni/http://www.bloggingstocks.com/2009/04/08/stocks-look-poised-to-drop-following-alcoas-disappointing-earni/http://www.bloggingstocks.com/2009/04/08/stocks-look-poised-to-drop-following-alcoas-disappointing-earni/#commentsFiled under: , , , ,

U.S. stocks may be poised to drop for a third day following yesterday's disappointing results from Alcoa Inc. (AA), the first major Dow component to report this earnings season.

According to Bloomberg News, futures on the S&P 500 expiring in June decreased 0.9 percent to 806.60 at 10:50 a.m. in London, while Dow Jones Industrial Average futures slid 1% to 7,683 and Nasdaq-100 Index futures fell 0.6% to 1,273.75. Markets in Europe and Asia were also down.

Continue reading Before the bell: Stocks poised to drop following Alcoa's disappointing earnings

Before the bell: Stocks poised to drop following Alcoa's disappointing earnings originally appeared on BloggingStocks on Wed, 08 Apr 2009 07:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>AACOPFDOfeaturedJNPRNouriel RoubiniNourielRoubiniSTZWed, 08 Apr 2009 07:30:00 EST<![CDATA[Should Buffett & Roubini "Face the Nation"?]]>http://www.bloggingstocks.com/2009/02/20/should-buffett-and-roubini-face-the-nation/http://www.bloggingstocks.com/2009/02/20/should-buffett-and-roubini-face-the-nation/http://www.bloggingstocks.com/2009/02/20/should-buffett-and-roubini-face-the-nation/#commentsFiled under: , , , , , , ,

The plight of the US and global economy, and how it touches everyone, has most people believing we are in for a long drawn out period of sluggish growth, and that a lot of pain is still to come. For most companies and individuals this means they can not obtain enough liquidity, reduce debt or increase their net cash positions fast enough.

Continue reading Should Buffett & Roubini "Face the Nation"?

Should Buffett & Roubini "Face the Nation"? originally appeared on BloggingStocks on Fri, 20 Feb 2009 14:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>berkshire hathawayBerkshireHathawayBRK.Aface the nationFaceTheNationfeaturedglobal economyGlobalEconomyJNJjohnsonandjohnsonnouriel roubiniNourielRoubiniSheldon LiberSheldonLiberWarren BuffettWarrenBuffettFri, 20 Feb 2009 14:20:00 EST<![CDATA[NYU's 'Dr. Doom' Roubini: Global stock markets to fall 20% more, due to China's recession ]]>http://www.bloggingstocks.com/2009/01/23/nyus-dr-doom-roubini-global-stock-markets-to-fall-20-more/http://www.bloggingstocks.com/2009/01/23/nyus-dr-doom-roubini-global-stock-markets-to-fall-20-more/http://www.bloggingstocks.com/2009/01/23/nyus-dr-doom-roubini-global-stock-markets-to-fall-20-more/#commentsFiled under: , , , , , , ,

You thought New York University Professor Nouriel Roubini was simply another one of those 'liberal academics' who criticize only Republicans like former U.S. President George W. Bush, or was merely trying to attract media coverage?

Not quite. Roubini's forecast has not changed since President Obama's election and inauguration, and his once-extreme forecasts have proved to be more accurate than estimates by most economists.

China to weigh on stocks

Roubini, the once obscure New York University economics professor who two years ago predicted the current global financial crisis and recession, now believes stock markets around the world will fall 20% from current levels, due to China's recession, Bloomberg News reported Friday.

Further, Roubini believes China is already in a recession despite its most recent GDP report, which showed 6.8% growth in Q4 2008 and a 9% growth rate for 2008.

"Demand is falling in China, they're over-invested in capacity and there's a global supply glut," Roubini told Bloomberg News. "It has very, very important implications."

Continue reading NYU's 'Dr. Doom' Roubini: Global stock markets to fall 20% more, due to China's recession

NYU's 'Dr. Doom' Roubini: Global stock markets to fall 20% more, due to China's recession originally appeared on BloggingStocks on Fri, 23 Jan 2009 11:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>emerging marketsgdpinthenewsNouriel RoubiniRGE MonitorRoubiniFri, 23 Jan 2009 11:30:00 EST<![CDATA[Are equities dead? Is IBM an exception?]]>http://www.bloggingstocks.com/2009/01/21/are-equities-dead-is-ibm-an-exception/http://www.bloggingstocks.com/2009/01/21/are-equities-dead-is-ibm-an-exception/http://www.bloggingstocks.com/2009/01/21/are-equities-dead-is-ibm-an-exception/#commentsFiled under: , , ,

People are really losing their appetite for equities. In the wake of last year's 39% drop in the S&P 500 index, investors seem to be scrambling for some way to preserve the money they have -- and they lack an appetite for taking the risk of buying stocks. One way I measure this is that despite the 15% increase in my newsletter's stock picks in 2008, there's not much appetite for subscribing. I think most people have concluded that the plunge in stocks does not make them cheap because there is not likely to be earnings growth to prop them back up.

Among the biggest losers in the stock market is TARP. The Congressional Budget Office (CBO) estimated last week that the U.S. Treasury's $247 billion in TARP investments made in financial institutions -- including 262 banks -- through the end of December have lost 25% of their value. NYU economist Nouriel Roubini estimated that potential credit losses for U.S. banks could hit $3.6 trillion -- $2.2 trillion more than their $1.4 trillion in capital.

This suggests that investors are wise to stay away from bank equities. But there is vast uncertainty regarding how many other industries and companies will suffer the collateral damage of a bankrupt banking system. It seems likely that any industry -- such as automobiles, airplanes, big computers, MRI machines -- that depends on financing to close deals will be in deep trouble. And with 2.6 million lost jobs in 2008, so will any industry that depends on the recently or about-to-be fired workers in these companies. Are there any equities that could emerge unscathed?

Continue reading Are equities dead? Is IBM an exception?

Are equities dead? Is IBM an exception? originally appeared on BloggingStocks on Wed, 21 Jan 2009 10:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>economyfeaturedFinancial crisisFinancialCrisisIBMnouriel roubiniNourielRoubiniTARPWed, 21 Jan 2009 10:00:00 EST<![CDATA[NYU's 'Dr. Doom' Roubini: The worst is still ahead of us]]>http://www.bloggingstocks.com/2009/01/08/nyus-dr-doom-roubini-the-worst-is-still-ahead-of-us/http://www.bloggingstocks.com/2009/01/08/nyus-dr-doom-roubini-the-worst-is-still-ahead-of-us/http://www.bloggingstocks.com/2009/01/08/nyus-dr-doom-roubini-the-worst-is-still-ahead-of-us/#commentsFiled under: , , ,

Those investors, including market absolutists, who interpret the current economic state-of-things as just a typical downturn that a few tax cuts and some good, old-fashioned, free market-based supply side economics can solve, may want to stop reading the economic data points in the months ahead. At least, that's the view of one economist.

Nouriel Roubini, the once obscure New York University economics professor, who two years ago predicted the current global financial crisis and recession, said the worst is still ahead for the U.S. economy and for economies around the world.

"In the next few months, the macroeconomic news and earnings reports from around the world will be much worse than expected," Roubini wrote in a column for Bloomberg News, adding that the aforementioned will put downward pressure on prices of risky assets.

Further, Roubini said the U.S. economy will remain in recession through at least the end of 2009, with only a mild recovery starting in 2010 -- with GDP growth in the initial recovery year of 1%. For 2009, Roubini also forecasts continued recessions for the United Kingdom, euro zone, Japan and Canada. Russia will also fall into recession, as will Brazil, and China will experience a hard landing, with growth slowing to 5%, he said. India's economy also will slow substantially.

Continue reading NYU's 'Dr. Doom' Roubini: The worst is still ahead of us

NYU's 'Dr. Doom' Roubini: The worst is still ahead of us originally appeared on BloggingStocks on Thu, 08 Jan 2009 12:47:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>emerging marketsfeaturedfiscal policyfiscal stimulusgdpglobal economyNouriel Roubiniquantitative easingRGE MonitorRoubiniU.S. economyThu, 08 Jan 2009 12:47:00 EST<![CDATA[NYU's 'Dr. Doom' Roubini: Stocks may fall another 20% during recession ]]>http://www.bloggingstocks.com/2008/12/22/nyus-dr-doom-roubini-stocks-may-fall-another-20-during-rec/http://www.bloggingstocks.com/2008/12/22/nyus-dr-doom-roubini-stocks-may-fall-another-20-during-rec/http://www.bloggingstocks.com/2008/12/22/nyus-dr-doom-roubini-stocks-may-fall-another-20-during-rec/#commentsFiled under: , , ,

Nouriel Roubini, the once obscure New York University economics professor who two years ago predicted the current global financial crisis and recession, said those who are turning bullish on the U.S. stock market need to reassess the data.

Roubini told Bloomberg News he was "still quite bearish on U.S. and global equities." Despite losing much of their value already, Roubini thinks they could still lose another 15-20% before any recovery beginning towards the end of 2009.

Caveat emptor: let the (stock) buyer beware

The S&P 500 has fallen more than 40% in 2008, and with a forward P/E of about 12, one could make the case that stocks are at least approaching cheap levels, based on the post-World War II P/E average of about 17. Economist Richard Felson is not of that camp.

"Cheap compared to what? Compared to bull market high P/Es of 25 or 26, yes, but that assumes a) a return to GDP growth levels experienced before the recession hit; and b) that stocks won't drop to lower levels. You can't assume either, so Roubini's downside forecast may represent 'discretion being the better part of valor'," Felson said. "This is a risky time to own stocks or increase positions. Stocks could become much cheaper, particularly if the recession lasts into Q3 2009."

Continue reading NYU's 'Dr. Doom' Roubini: Stocks may fall another 20% during recession

NYU's 'Dr. Doom' Roubini: Stocks may fall another 20% during recession originally appeared on BloggingStocks on Mon, 22 Dec 2008 18:33:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>featuredgdpinthenewsNouriel RoubiniNYSEpeprice per earningsRGE MonitorU.S. economyMon, 22 Dec 2008 18:33:00 EST<![CDATA[NYU's 'Dr. Doom' Roubini: GM, Chrysler bankruptcies would extend recession well into 2010 ]]>http://www.bloggingstocks.com/2008/12/15/nyus-dr-doom-roubini-gm-chrysler-bankruptcies-would-extend/http://www.bloggingstocks.com/2008/12/15/nyus-dr-doom-roubini-gm-chrysler-bankruptcies-would-extend/http://www.bloggingstocks.com/2008/12/15/nyus-dr-doom-roubini-gm-chrysler-bankruptcies-would-extend/#commentsFiled under: , , ,

Nouriel Roubini, the once obscure New York University economics professor who two years ago predicted the current global financial crisis and recession, said a bankruptcy filing by two of the Big Three automakers would deepen and lengthen the U.S. recession.

Roubini said if General Motors or Chrysler are forced into bankruptcy without a U.S. government rescue, the U.S. recession will extend well into 2010, Bloomberg News reported

"The economic ramifications of an outright bankruptcy would be severe," Roubini told Bloomberg News, adding that the already-weak U.S. fundamentals mean that a recovery of growth will not occur until 2010.

General Motor's (NYSE: GM) shares rose 15 cents to $3.81 on Monday at mid-day; Chrysler is privately held. Ford's (NYSE: F) shares rose 13 cents to $3.17.

Economist David H. Wang agreed with Roubini's assessment. "A GM bankruptcy would create a ripple-effect. The steel, aluminum, textile, auto parts supplier, and support sectors would be immediately impacted, resulting in large lay-offs within weeks. The credit market also would be effected, and obviously the stock market would not have a pleasant time," Wang said. "Chrysler would fold, Ford would also be hurt on a deterioration of sector confidence, and the industrial sector would experience its biggest decline in generations."

Continue reading NYU's 'Dr. Doom' Roubini: GM, Chrysler bankruptcies would extend recession well into 2010

NYU's 'Dr. Doom' Roubini: GM, Chrysler bankruptcies would extend recession well into 2010 originally appeared on BloggingStocks on Mon, 15 Dec 2008 12:55:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>auto bailoutauto rescueDemocratsinthenewsNouriel RoubiniObama AdministrationRepublicansRGE MonitorMon, 15 Dec 2008 12:55:00 EST<![CDATA[NYU's 'Dr. Doom,' Roubini: U.S. recession could be worst in 50 years ]]>http://www.bloggingstocks.com/2008/11/24/nyus-dr-doom-roubini-u-s-recession-could-be-worst-in-50-y/http://www.bloggingstocks.com/2008/11/24/nyus-dr-doom-roubini-u-s-recession-could-be-worst-in-50-y/http://www.bloggingstocks.com/2008/11/24/nyus-dr-doom-roubini-u-s-recession-could-be-worst-in-50-y/#commentsFiled under: , ,

Nouriel Roubini, the once obscure New York University economics professor who two years ago predicted the current global financial crisis, now says the United States will likely face its worst recession in 50 years.

"I expect the worst recession in 50 years," Roubini told Bloomberg News. "There will be a cumulative fall of output of 4% from the peak, and unemployment will jump to 9%."

Further, predicting that future U.S. Federal Reserve interest cuts will be ineffective, Roubini also reiterated that the U.S. economy needs "a major, aggressive fiscal stimulus, a $300-400 billion package, because private demand is collapsing."

Roubini's forecasts were once considered to be 'too harsh' or 'implausible,' due to what many economists and analysts argued were premises that were incorrect or off-the-mark. These conclusions earned Roubini the nickname 'Dr. Doom.' However, in less than two years, and especially in 2008, U.S. financial and economic fundamentals have deteriorated to such an extent, that at least in some metrics, conditions are closer to Roubini's forecasts than those of the many, mainstream economists who had scoffed at his predictions.

Continue reading NYU's 'Dr. Doom,' Roubini: U.S. recession could be worst in 50 years

NYU's 'Dr. Doom,' Roubini: U.S. recession could be worst in 50 years originally appeared on BloggingStocks on Mon, 24 Nov 2008 12:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>fiscal policyfiscal stimulusgdpinthenewsNouriel RoubiniRGE MonitorRgeMonitorU.S. economyunemploymentMon, 24 Nov 2008 12:30:00 EST<![CDATA[NYU's 'Dr. Doom,' Nouriel Roubini, says U.S. recession could last 18-24 months]]>http://www.bloggingstocks.com/2008/10/18/nyus-dr-doom-nouriel-roubini-says-u-s-recession-could-las/http://www.bloggingstocks.com/2008/10/18/nyus-dr-doom-nouriel-roubini-says-u-s-recession-could-las/http://www.bloggingstocks.com/2008/10/18/nyus-dr-doom-nouriel-roubini-says-u-s-recession-could-las/#commentsFiled under: , ,

Nouriel Roubini, the once obscure New York University economics professor who two years ago predicted the current global financial crisis, now says the world's largest economy will need a large fiscal stimulus from the federal government to avoid a serious economic downturn.

Further, failure by Congress to pass a large fiscal stimulus, as well as undertake other measures, will lead to a 18 to 24 month recession, which will push unemployment above 9%, Roubini said on his website, the RGE Monitor.

Sees need for large fiscal stimulus

"Much more needs to be done including further monetary policy easing, a large fiscal stimulus program to boost demand at the time when private aggregate demand (consumption and investment) are sharply falling; and a plan to reduce the mortgage debt burden of millions of distressed households," Roubini said.

Further, Roubini said the U.S. government will have to double its purchase of bank stakes and require these banks to eliminate dividends to save them from bankruptcy. He also now sees bank/financial institution credit losses stemming from the collapse of the subprime mortgage market of about $3 trillion, up from his earlier estimate of $1-2 trillion.

The above statistics paint a sobering prospect/picture of economic contraction, but Roubini does see a ray of light:

Continue reading NYU's 'Dr. Doom,' Nouriel Roubini, says U.S. recession could last 18-24 months

NYU's 'Dr. Doom,' Nouriel Roubini, says U.S. recession could last 18-24 months originally appeared on BloggingStocks on Sat, 18 Oct 2008 18:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>banking sectorbanksbond marketcredit marketsEUEuropean Uniongdpinthenewsmortgage backed securitiesNouriel RoubiniRGE MonitorRoubiniU.S. economySat, 18 Oct 2008 18:40:00 EST<![CDATA[NYU's Roubini: 'All fronts' approach necessary to end global financial crisis ]]>http://www.bloggingstocks.com/2008/10/10/nyus-roubini-all-fronts-approach-necessary-to-end-global-fin/http://www.bloggingstocks.com/2008/10/10/nyus-roubini-all-fronts-approach-necessary-to-end-global-fin/http://www.bloggingstocks.com/2008/10/10/nyus-roubini-all-fronts-approach-necessary-to-end-global-fin/#commentsFiled under: , , , ,

Nouriel Roubini, the once obscure New York University economics professor who two years ago predicted the current global financial crisis, now says leaders of the world's major industrialized economies and developing countries must implement an 'all fronts' approach to avert a financial calamity and a global depression.

"It will take a significant change in leadership of economic policy and very radical, coordinated policy actions among all advanced and emerging-market economies to avoid this economic and financial disaster," Roubini said on his web site, RGE Monitor.

Roubini urged that national policy makers take immediate action to end the crisis, which has dramatically tightened credit conditions worldwide, constraining the ability of corporations to undertake daily operations, which will hurt GDP growth rates in every region.

And, ironically or by coincidence, leaders will have an opportunity to dialogue and implement a common strategy: officials from the International Monetary Fund, World Bank, and Group of Seven (G-7) nations meet in Washington, D.C. this weekend for their previously-scheduled annual meeting.

Continue reading NYU's Roubini: 'All fronts' approach necessary to end global financial crisis

NYU's Roubini: 'All fronts' approach necessary to end global financial crisis originally appeared on BloggingStocks on Fri, 10 Oct 2008 14:18:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>banking sectorbanksbond marketChinacredit marketsEUEuropean UnionfeaturedFedfiscal policyG7G8IMFInternational Monetary FundJapanmonetary policymortgage backed securitiesmortgagesNew York UniversityNouriel RoubiniRGE MonitorRussiaU.S. Federal ReserveU.S. TreasuryWorld BankFri, 10 Oct 2008 14:18:00 EST<![CDATA[Bank failure rate is very slow]]>http://www.bloggingstocks.com/2008/08/23/bank-failure-rate-is-very-slow/http://www.bloggingstocks.com/2008/08/23/bank-failure-rate-is-very-slow/http://www.bloggingstocks.com/2008/08/23/bank-failure-rate-is-very-slow/#commentsFiled under: ,

One of the largest concerns about the economic downturn is that hundreds of banks might fail, putting stress on the resources of the FDIC. Yesterday, regulators shut Columbian Bank of Topeka, Kan. But, it is a small bank and the effects of the action should have almost no impact on the local economy.

According to the Associated Press, "It was the ninth failure this year of an FDIC-insured bank." Not many experts would have predicted that only nine banks would be gone as the calendar approaches labor day. Some analysts predicted that a thousand banks could go under. This group is lead by famous NYU economist Nouriel Roubini. Roubini expects total mortgage-related write-offs to hit $1.5 trillion.

While the predictions may be dire, where are the bank failures? There is no indication from the FDIC or any other federal government agency that the rate at which banks are going under will accelerate between now and the end of the year.

If there are supposed to be scores of more bank failures, the pace better pick up before the recession is over. The pessimists appear to have missed the mark.

Douglas A. McIntyre is an editor at 247wallst.com.

Bank failure rate is very slow originally appeared on BloggingStocks on Sat, 23 Aug 2008 15:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bank failuresBanksColumbian Bank of TopekaFDICinthenewsNouriel RoubiniSat, 23 Aug 2008 15:40:00 EST<![CDATA[The most negative economist in the world]]>http://www.bloggingstocks.com/2008/08/17/the-most-negative-economist-in-the-world/http://www.bloggingstocks.com/2008/08/17/the-most-negative-economist-in-the-world/http://www.bloggingstocks.com/2008/08/17/the-most-negative-economist-in-the-world/#commentsFiled under: ,

Nouriel Roubini, a professor at New York University, has recently been profiled in both Barron's and The New York Times. There may be nothing special about his training or methods, but what is fairly unique is his opinion that we are on the brink of a modern version of the Great Depression.

It is hard to say why the media wants to give his analysis voice, but he has become the object of almost endless fascination.

The foundation of his view of the economy is that the current housing disaster will get much, much worse and that banks will end up writing off almost $1.5 trillion in mortgage-related paper. That is about three times what they have taken as charges so far. The New York Times quotes Roubini as saying, "A good third of the regional banks won't make it."

While a number of experts believe that the recession could last a year, Roubini would he called an extremist by most measures. He foresees a downturn lasting 18 months.

The media does not like Roubini because he may be right. They like him because predictions of great economic collapse and mayhem sell papers. That is too bad. The public deserves a more balanced view.

Douglas A. McIntyre is an editor at 24/7 Wall St.

The most negative economist in the world originally appeared on BloggingStocks on Sun, 17 Aug 2008 14:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>depressioneconomistshousing crisisinthenewsNouriel Roubiniregional banksRoubiniSun, 17 Aug 2008 14:40:00 EST<![CDATA[Martin Wolf: The financial situation is serious, but remains manageable]]>http://www.bloggingstocks.com/2008/03/14/martin-wolf-the-financial-situation-is-serious-but-remains-man/http://www.bloggingstocks.com/2008/03/14/martin-wolf-the-financial-situation-is-serious-but-remains-man/http://www.bloggingstocks.com/2008/03/14/martin-wolf-the-financial-situation-is-serious-but-remains-man/#commentsFiled under: , , , ,

The ever-incisive FT columnist Martin Wolf offers a stark and sober analysis of the United States' current financial and economic predicament, but it's an analysis well-worth reviewing, if one has the time.

A synopsis is provided here, but first, full warning: read the analysis when you're feeling well and in a good mood, not during other times.

Continue reading Martin Wolf: The financial situation is serious, but remains manageable

Martin Wolf: The financial situation is serious, but remains manageable originally appeared on BloggingStocks on Fri, 14 Mar 2008 15:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Bank of EnglandBank of JapanBear StearnsBernankebond marketBSCcredit marketsECBEuropean Central BankfeaturedFedfiscal policyforeclosuresGDPhousingInternational Monetary FundinthenewsJP Morgan ChaseJPMLipskyMartin Wolfmonetary policymortgagesNouriel RoubiniRGE Monitorsubprime mortgagesSwiss National BankSwissNationalBankTerm Auction FacilityTerm Securities Lending FacilityTrichetU.S. Federal ReserveU.S. Treasury DepartmentFri, 14 Mar 2008 15:32:00 EST