Is Nouriel Roubini Crying Wolf?

There is no doubt that Professor Nouriel Roubini was one of the first to predict the financial meltdown. He has consistently been ahead of the curve in his predictions. He also seems to be showing up more and more in the media.

In this new video he is decidedly negative on the new housing plan, banks, and the economy. He is not discussing, however, where all the capital would come from to execute his very aggressive plans which he contends are necessary. As I watched the video I started to get the feeling that Roubini is starting to sound like the little boy crying wolf. He continues to say the same thing over and over.

It is easy to sit in an ivory tower and criticize every move. It is another thing to operate in the real world and balance the need to create an orderly, effective stimulus plan and bailout against the background of raising those funds in the world markets. Confidence is a critical issue and a failed Treasury auction would be a disaster. Something of that nature would derail the best laid plans of mice and men.

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Source: Firedoglake