Suckers’ Rally Officially Over!
November 20, 2008
Nouriel Roubini with the straight shit on the economy:
Now the latest brief bear market sucker’s rally has gone fully bust and conditions are getting again “fugly and fuglier” in the real economy – US and globally – and in financial markets, both equity and credit markets. Other shorter and shorter-lived bear market rallies may occur again as desperate policy authorities – especially monetary ones – try to get out of their policy hat other voodoo rabbits of more desperate and unorthodox policy measures as we have already effectively reach the zero-bound for the policy rate and a liquidity trap (the effective Fed Funds rate has already around 0.3% for weeks now while the target rate is formally still at 1%). And the risks of a stag-deflation – that I have been warning about since January – are now becoming conventional wisdom as even Don Kohn is now talking about the risks of deflation.
I wanna know why Nouriel Roubini, who’s been calling this economic collapse shit correctly for years now, isn’t on the short list for a high-level economic policy position in the Obama administration?
When the financial bailout plan was first devised, Roubini was adamant that it was a terrible mistake for the US Govt to purchase the shitpile of worthless assets of troubled banks at windfall prices, and rather should pump money into the financial system by purchasing equity in banks. Well, just last week the economic lightbulbs of the fuckwit Bush regime decided that, “Hey, let’s not just give away free money to banks in exchange for totally worthless paper! Let’s buy equity stakes in shaky banks!”
Why the fuck is Obama considering as his highest level economic advisors and policy-makers the same delusional fucknozzles who got us into this horrible fucking mess in the first place? Even some fucking Joe the Plumber shitheel off the street couldn’t do worse than these proven FAILURES at managing an economy! Roubini for Secretary of the Treasury!
And I can’t wait to read Roubini’s next piece of analysis:
In my next piece I will discuss in more detail how we are now close to the deadly “Bermuda Triangle” of a liquidity trap, price deflation, debt deflation and sharply rising defaults.
Nice job, “expert economic planner” assclowns! Oh, and by the way, the Republican Motherfucking Party owns this shit!!!!! But yeah, it’s really, really important for the Obama administration to reach across the aisle and work with these greedy, stupid, craven motherfuckers who ruined our entire nation, and intentionally destroyed all of the things that normal decent Americans care about.