To be honest, everyone has some kind of vested interest. This is inherent in all of us and all economists, including Roubini. e.g I was disappointed to see Roubini recently, getting obsessed about his recession prediction and I mentioned that on his blog as well. This is probably because with markets motoring along, he has been getting more criticism for his position, from folks who have vested interest to believe in a soft landing.
Once you have established or taken an economic position, it is difficult for your ego, to change it based on incoming data as the instinct is that of denial. Most often, there is some data to help the denial as well. e.g Most of folks on this forum have positioned themselves finacially for a hard landing scneario. Most economists till now, have themselves and their funds positioned for soft landing. Maybe one side is more finanically motivated than the other but fact is that both sides have an embedded bias that clouds their judgement. Sorry I don’t believe ANYONE can come up with truly objective analysis. That’s why I believe in diversifying and risk management.
