My question is, how many of these people (besides Roubini) were predicting clear sailing for the economy a few years ago? Really, how much credibility do any of them have? How many of them even a few months ago said “recovery by Q1 2009”?
Here’s another angle. How many “experts” predicted an end to the post 1929 crash recession by some time in 1931, 1933 at the latest? I think a lot of them did, and they were wrong by 10+ years.
Most of these “experts” are complete idiots. They’ve never been right yet. If the dollar collapses, a recovery is a very, very, very long way away. A recovery will require a complete paradigm shift and retooling of our economy, and the government’s run away borrowing and printing is taking us in the opposite direction. If these “experts” can’t see that, they should be losing their jobs, not all the nameless masses who are truly victims of other people’s incompetence.
