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Roubini and Taleb tell CNBC Geithner will fail
Submitted by Tony Wikrent on Mon, 02/09/2009 - 21:12. financial collapse Macro Economics Nasem Taleb Nouriel Roubini TARP Wall Street rescue
CNBC has a ten-minute interview with Nouriel Roubini and Nasem Taleb in which Taleb said Geithner is "that class of people who have failed, and they're going to fail again."
The entire interview is an interesting example of how insane media people are. They kept trying to get Roubini and Taleb to provide investment recommendations, to which Roubini and Taleb all but said "You stupid horses asses, the world economy is collapsing! There's no investment that's safe right now, and there won't be any safe investments until the whole rotten system is replaced!"
One of the CNBC idiots even said that since such horrible bears as Roubini and Taleb have achieved "rock star status" it's a sure sign that the bottom has been reached. Honest! (I wish I could make this crap up, and make a living writing best-selling novels.)
Taleb especially kept trying to pound home the idea that the entire system is intellectually bankrupt as well as financially insolvent, and there is no solution other than to change the system. He also said we need to get rid of the people that failed. Incredibly, the ditzes of CNBC wanted to know who had failed. The first name out of Taleb's mouth was Ben Bernanke.
Like I wrote above, this is a classic example of main stream media insanity. And, it's also a good antidote to the euphoria that President Obama generated with his first press conference, which gave the nation proof positive that we finally have a chief executive able to coherently string together more than two sentences.
Geithner's show is tomorrow, and I suspect that it's going to be difficult to launch any criticism of what he unveils against the tide of good will the President created this evening.