Dr. Doom on CNBC: Carry Trade, Asset Bubbles, and Housing
November 5, 2009
Nouriel Roubini on CNBC as a follow up to his article on FT discussing the carry trade. Housing down another 10% through next year, commercial real estate even worse. Recovery will be U shaped rather than V-shaped. CapEX is unlikely given current capacity utilization are so low. Asset bubbles out of hand in Asia. And general doom and gloom….though we agree that asset values are a inflated and will continue to inflate. The carry trade is a real phenomenon. That and the fact that institutions like Goldman have converted to Financial Holding Companies, allowing them to borrow from the FED at next to nothing and invest that money in virtually anything else they want.
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i love roubini. hes so on it. cnbc is lame.
Roubini is Will Ferrell's cousin. But he's no comedian.