Roubini deserves props for joining esteemed folks like Peter Schiff, Alex Jones, Michael Panzer, and Kid Mercury in his prognostication of economic collapse in the United States, and he is correct in that the worst is yet to come. But Roubini advocates government intervention, which is a terrible idea. Ron Paul's prescription, which acknowledges that all solutions begin with reducing government spending and returning to a society where investment booms are based on savings rather than cheap credit, is the correct one. -- KM




Dubbed Dr Doom for his gloomy views, this lugubrious disciple of the “dismal science” is now the world’s most in-demand economist. He reckons he is getting about four hours’ sleep a night. Last week he was in Budapest, London, Madrid and New York. Next week he will address Congress in Washington. Do not expect any good news.
Contacted in Madrid on Friday, Roubini said the world economy was “at a breaking point”. He believes the stock markets are now “essentially in free fall” and “we are reaching the point of sheer panic”.

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