Submitted by Portalrules123 t3_11glvjh in Futurology
mhornberger t1_japrngg wrote
Here's an interesting paragraph from his Wikipedia page:
>>However, financial journalist Justin Fox observed in the Harvard Business Review in 2010 that "In fact, Roubini didn’t exactly predict the crisis that began in mid-2007... Roubini spent several years predicting a very different sort of crisis — one in which foreign central banks diversifying their holdings out of Treasuries sparked a run on the dollar — only to turn in late 2006 to warning of a U.S. housing bust and a global 'hard landing'. He still didn’t give a perfectly clear or (in retrospect) accurate vision of how exactly this would play out... I’m more than a little weirded out by the status of prophet that he has been accorded since."[21][22][23] Others noted that: "The problem is that even though he was spectacularly right on this one, he went on to predict time and time again, as the markets and the economy recovered in the years following the collapse, that there would be a follow-up crisis and that more extreme crashes were inevitable. His calls, after his initial pronouncement, were consistently wrong. Indeed, if you had listened to him, and many investors did, you would have missed the longest bull market run in US market history."[24][25][26][27] Another observed: "For a prophet, he’s wrong an awful lot of the time."[28] Tony Robbins wrote: "Roubini warned of a recession in 2004 (wrongly), 2005 (wrongly), 2006 (wrongly), and 2007 (wrongly)" ... and he "predicted (wrongly) that there'd be a 'significant' stock market correction in 2013."[29] Speaking about Roubini, economist Anirvan Banerjee told The New York Times: "Even a stopped clock is right twice a day," and said: " "The average time between recessions is about five years ... So, if you forecast a recession one year and it doesn't happen, and you repeat your forecast year after year ... at some point the recession will arrive."[30][8] Economist Nariman Behravesh said: "Nouriel Roubini has been singing the doom-and-gloom story for 10 years. Eventually something was going to be right."
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