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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: MulhollandDrive who wrote (103509)2/5/2008 9:56:33 PM
From: Elroy JetsonRead Replies (3) of 306849
 
A free link to the full Roubini text __ rgemonitor.com __ is also found here: __ financialarmageddon.com

Still at the Forefront

The bad news is that Nouriel Roubini is an economist and an academic.

The good news is that this background has not prevented him from being one of the leading authorities on the economic and financial disaster that has been unfolding for many months now.

While other "experts" claim to have seen things coming, he has been out there, at the forefront, sharing his thoughts for all to see (and, earlier on, getting ridiculed for daring to espouse such controversial views.)

In his latest blog post, "The Rising Risk of a Systemic Financial Meltdown: The Twelve Steps to Financial Disaster," Professor Roubini addresses the question that TV pundits, stock traders, and most of the mainstream press should have asked, but didn't.

Why did the Fed ease the Fed Funds rate by a whopping 125bps in eight days this past January? It is true that most macro indicators are heading south and suggesting a deep and severe recession that has already started. But the flow of bad macro news in mid-January did not justify, by itself, such a radical inter-meeting emergency Fed action followed by another cut at the formal FOMC meeting.

To understand the Fed actions . . .
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