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TCW's Komal Sri-Kumar Moderates Roubini On Greece And The Eurozone
And now for a Milken conference panel that isn't a waste of 99% of your time: Nouriel Roubini, James McCaughan and Bo Lundgren, moderated by TCW's very astute new Chief Global Strategist (presumably one with less of a fetish for dildos and marijuana than his predecessor) discuss the topic de chaque jour: the Eurozone, and specifically Greece. Roubini starts his presentation by saying that it ain't gonna work. Something tells us Roubini does not work for the IMF, the EU, the ECB, Germany, Greece or any other government organization (and thus CNBC).
Incidentally, the full Milken series of free presentations can be found here.
h/t Sqworl
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When can we expect to see famous pundits speaking at the Madoff Institute's annual conference at Club Fed?
Only if you think Turbo Timmy qualifies as a pundit.
Only question is whether Tim can claim he was doin' 'God's work' floating the 100% payback to his mollusk overlords and that gets him a 'get out of jail free' card.
Otherwise, it just a bunch of guys named Tony, with nicknames like 'the Bull' and 'the Nose'.
Yes Captain O, the Milken Institute, the Madoff Institute and these other fine institutes of higher learning:
Blodget Institute for Prevention of Stock Price Pumping.
Robert Allen Stanford School for Detecting Mail, Wire, and Securities Fraud.
Stephen "no conflict of interest" Friedman Academy for Selfless Public Service.
Hank Paulson Clinic for Stutter-Free Prevarication.
Lloyd Blankfein Seminary for Doing God's Work.
Super work ZH. Just a matter of time now. Please post laymans best option on how to bet the downside. My cabin in nowhere New Hampshire ready built in 2 months.
Is it possible to have a reefer big enough to be used as a dildo?
I guess they call it a Philly Blunt!
Nouriel "Count Chocula" Roubini is desperately seeking a return to "Rock Star" status obtained in 2008. By cheerleading the collapse of the EU and relishing in its ultimate destruction and collapse in financial markets.
Wonder if he will be able to recognize a turn in these markets when it occurs, and see if he is fast enough on his feet to recommend going long this region.
Never mind that he missed the DJIA's latest 80% rally off the March 2009 lows.
Including the 4000% gain in DTG, and BIDU's run from $100 to $700.
LOL...
But, wouldn't he have been right without the federal intervention, which reminds me of how much I was robbed while I sat primarily in cash for 2 years waiting for stocks to hit my price ranges. No one told me in investor school that I had to price in a federal floor! Which reminds me, I wonder what happened to the people who bought swaps on AIG. I wonder who sold them and how much too....
"Count Chocula" ...f'n classic robo (PG-13 for the puritans in the audience)
speaking of vampires, riddle me this, which dracula does mikey milkmoney best resemble?
http://www.youtube.com/watch?v=CW0feuihNOY&feature=related
He was debating Michael Milken(when did he get out of jail?) and Milken said green energy will help us w/ our problems. What was he smoking?
Milken did say we ought to open up our LEGAL immigration and market the US to attract the best and the brightest across the globe and perhaps charge a minimum investment. I think its smart as we must recognize global competition for everything, including human capital.
We have plenty of smart people, the shortage is in the ethical demographic. Milken and dupes showing for his makeover in progress are the problem, they have no solutions worth considering, of course that only goes for those who still consider the source.
(caution - if you are a Roubini fan this may be somewhat unsettling)
As I recall Dr. Roubini is tight (as in very tight) with Dr. Summers/
scroll to the last page of this PDF and to page three as well.
http://online.wsj.com/public/resources/documents/disclosure-LSummers0403...
These comments are asinine. Why does no one say "let Greece fail", "Let the world live within their means"? Lets just get the depression over with so we can get on a real economy instead of living in a ponzi scheme.
"Gold iz een a bauble."
Gold ist in einer Blase?
I believe Roubini to be a fool's fool... I believe there is some village out there missing its idiot.
I have been to his parties in Tribeca at his self-proclaimed "loft"... turns out to be an average sized apartment with a mezzanine floor built-in. Also 40 or so of his female NYU students in their 20's were there and Roubini and the Black Swan guy were going after the really drunk ones... you should have seen them... made me puke.
It seems to me that this man never made a dime in the markets and I do not think he ever will... I recognise a phony when I see one.
I was there watching you leech off his kindness. I have attended several of these parties and not once watched Roubini or Taleb behave as you describe above.
Me thinks your just jealous that he has such a great space, filled with fantastic art and beautiful women.
What do you have? I recognize a loser when I read one.
Without the pretend and extend he would be spot on!!!
I am sorry you recognised me, Prof Roubini... I did not mean to tell anyone what I repeatedly saw at your "apartment" parties... you are right, I am jealous of your 800 sq ft apt... it is 2x the size of mine... please do not fail me on my next exam... I am just a Dick Weed... BTW, it is true that you have never made a dime in the market as people say...?
Im not Roubini, but I am a dear friend of his. A nobody like you to come on ZH and make libelous statement of the World's leading economist and then togo on about being invited to his home to enjoy his spirits, food and good time just shows what a worthless piece of "cr*p" you really are! As for his making money, Nouriel would never boast nor disclose his portfolio.
Shame on you for being so reckless and irresponsible!
Yes, Professor, I am worthless "piece of cr*p" as you stated, for merely expressing my opinion... as you can see, I expressed my opinions carefully, prefixxing them with "I believe"... so only an "intollerant diktator" like you would think it liabous... as for my reasons for attending your TriBeCa parties... I was invited by you, and I brought along my "Flip"... any yes, I have plenty of footage of what actually occurred at those parties... and yes, I had to take a shower when I got back home... but what do I know, I am just a Dick Weed.
hahahaha The you the first thing you did was to upload your photos to your facebook to show everybody that you were at the party and knew him as if this association was going to make the size of your willy longer..lol
Dear Professor... actually, if you must know, I do not have a "willie", you bigotted male chauvanist pig... most women don't... [well, then again, maybe some of the ones that you sleep with do]... Professor, can you guess who I am yet...? I might just be one of the "girls" whom you and your bald and lecherous friend were feeding alcohol to... and maybe one of those who did not appreciate your clammy hands all over her skin... can you guess who I am now...? Or do you need a few more hints...?
FYI, Tyler: Sri is not new at the job. He has been Head Strategist at TCW for quite some time (he is a prof acq of Cpt.W).
BTW, I wonder when Roubini finds time to do actual work and analysis. He seems to spend all his time in public pontificating or chasing tail.
Also worked for Milken at Drexel before then.
These guys are incredibly intelligent...........to a fault. When you base economies on debt-money created out of thin air (rather than commodities and gold), you have to be a smart momma-jomma to keep ahead of the ponzi scheme you've created. These fellows, Roubini especially, have excellent analytical skills within the paradigm of the ponzi. Once the ponzi collapses however, no one will remember this video.
+1000...yes they are!!!
Roubini's worrying about losses in the German banking system is a red herring. 40% (haircut) of 45 Billion (loans to Greece) is less than what the IMF wants as Germany's share of the Greek bailout ($25 Billion minimum). Those losses will metastasize unless they are broached.
Germany could float their mark and intially would be the big fish in a small pond (post EU). They would become the natural store of wealth as the remainder of the EU, UK, and USA run onto hard times.
This interview was very insightful. Milken and Roubini need only resolve the "winners always care about losers" and "losers are societies economic responsiblity" debate and we could find a way out of this mess.
After 30 years of failed social remedies fostered by those who now claim resources which do exsist we are not getting out of this mess.
Spam, lead, silver, and a safe water source.
Roubini said they cant do this, Denninger said you cant do that, Tyler said this, Peter Schiff said the Economic world is going to collapse and it didnt. Remember Dubai? Remember Japan? They are still around. Dont bother me when the house of cards come tumbling down. I will be resting comfortably in my grave 30 years from now. Rally on. Blah Blah
I thought this was excellent, thanks Tyler! Worth a watch for all the fledgling ZH financial gurus.
Roubini starts with excellent reasons why "extend and pretend" won't work with Greece. Let's use that money to fight the crisis caused by Greek default which will happen regardless of temporary measures to put the day of reckoning off.
He then seems to say that "Well, let's try extend and pretend and then if that doesn't work, we'll have to let Greece default.
However, what about the 150 billion euros wasted to keep Greece afloat for 3 years. Whose money is that? (Answer: Some of it is mine, some yours, because most will come from US taxpayers)
Also in three more years the US will be 5 trillion more in debt making our ability to ever recover from our own debt spree that much less likely.
Greece must be destroyed, NOW, because putting it off will make the destruction of the US more likely and it will not help Greece. Giving an insolvent family more credit may make them like you, but it only increases society's losses when they go bankrupt. Time for Greece (and the US) to face reality. It was fun why the good times lasted but it is over. Get used to it!