The Cassandra Factor

Here's a CNBC interview with Nouriel Roubini and fellow economist Nassim Taleb. Watch the whole thing, it's about ten minutes, and note how goddamn scary these guys are.

Here are two well-informed economists who have basically called every bullet point on the impending financial disaster checklist calmly and rationally discussing the end of the American economy while the meatbag in the studio is asking these guys for f'ckin stock picks. Seriously.

Watch the whole thing. Taleb is not quite as gloomy as Roubini is and is learning towards a nasty recession until 2010, but Roubini is outright saying he believes there's a good chance America is heading for a multi-year depression that could last a decade.

Roubini has been right so far. I don't know how many times I can say this. He's called this thing right since 2004, every step of the way, from the housing bubble to the housing collapse, the subprime crisis, the brokerage fallout, the collapse of Fannie and Freddie, the failure of TARP and now he's saying Geithner's plan to fix the banks are useless.

He offers his own plan, which is excellent. Nobody will listen to him.

Cassandra all over again.