Roubini signals what?

The man in his fifties who decorates his Tribica loft with walls of plaster vaginas and who glorifies himself on Facebook with very young women has now called for another set-back in the financial markets. Personal stuff aside, this guy was negative forever and finally got it right. Who knows what the markets might do near term. There's not much new. Everyone for the most part knew that unemployment would continue to rise near term and that a recovery would be slow. Equities still remain beaten up and while some say they are priced at an extreme, hey, wait til you see the year over year comparisons coming up. For whatever reason, the TALF money has been mostly allocated, but $600 billion apparently remains to be spent, a stimulus not yet realized.

Commodities, another Roubini target, are under pressure but that is a short term phenomena. Short term? one month, one year, two years? barring a global economic collapse commodities have pent up value, from mining to agriculture.

The short term attention seeking of Roubini and his NYU colleague Taleb are provocative and worth some attention. The characters involved are not.