Tuesday, September 13, 2011

Is media worshipping fake gurus? Nouriel Roubini`s case might present affirmative answer

Nouriel Roubini aka Dr. Doom is well known in the mainstream media circles as "the one who predicted 2008 economic crisis" as this would represent some huge credentials and credibility. There were many others like for eg Ron Paul who predicted the crisis and don`t take the credit they rightfully deserve. Let me give you a few names of people who besides this Dr. Doom predicted the 2008 crisis just as well if not better: Ron Paul, Peter Schiff, John Paulson, Jim Rogers.

However mainstream media doesn`t like or doesn`t want to highlight the so many times when their guru sweethearts are dead wrong.
Back in 2009, a while after the Jedi Master Dr. Doom made the economic crash prediction, he also made this extremely bold and confident statement about gold price:

“Maybe it will reach $1,100 or so but $1,500 or $2,000 is nonsense,” Roubini said. Source here.

Now in 2011, 2 years after we have gold sitting above $1,800 and poised to break the $2,000 barrier.

Back in 2009, Rogers openly contradicted Roubini, saying that Roubini`s idea of "gold bubble" is nonsense.

Now looking back in retrospect; should we stop listening to Roubini aka Dr.Doom!? Or should we at least take his statements with a lot of salt and not view him as the oracle that he`s(obviously) not.

I`ll leave you with some quality entertainment in the company of Dr. Doom.
Enjoy! :)

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