Saturday, January 21, 2012

Dr. Doom predicts more doom

We're doomed.

Thus spoke Nouriel Roubini in an interview with Canada's newspaper of record, which is not the National Post.

Roubini is famous as the guy who predicted the collapse of the US housing bubble. I predicted it too, but I guess it doesn't count when you're a retired welder in the back reaches of Bruce County.

But Roubini is a globe-trotting economist, so when he figured out that if you keep making loans to people who don't have a hope in hell of paying them back you'll eventually have a problem, people listened.

In today's interview with the Globe and Mail Roubini reveals that he is once again on the same page as the think tank here at Falling Downs. Has he been reading my blog? Fess up, Dr. Doom.

Roubini agrees that the Greeks will eventually have had enough of the IMF and will rise up and say "fuck you" to the austerity that their Euro-zone pals have imposed.

Goodbye euro. Welcome back drachma. And welcome back sovereignty. In the process maybe you can get rid of the Goldman Sachs flunky who you've got running your country.

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