Roubini was right. So was Greenspan.

Spiegel Online put together a photo gallery of nine people who were “right” about the crisis.  This could be nothing more than making sensible statements.  At first, it gave the impression that this was about those who predicted the upcoming crisis right.  But having read the nine statements, I’m almost sure it’s all about making correct evaluations of the crisis. Some of them were:

“Lots of people think that the recession in the US won’t have any impact on the world’s economy, but that’s an illusion. The party’s over.” – Hans-Werner Sinn, President of the IFO Institute, a leading German economic research establishment

“I no longer believe in the self-healing power of the market.” – Josef Ackermann, CEO of Deutsche Bank

“This crisis reaches deeper than all the previous crises in the market since 1929. This is a market failure, and a problem like this can only be solved by the state.” – Werner Abelshauser, economic historian

The two more interesting finds were the last two on the list:


That’s Nouriel Roubini who was right right from the start. And the one that preceded him was this:


There’s something disconcerting about Roubini and Greenspan being right at the same time.


They also have a list of those who were wrong, including Trichet, Merkel, Bernanke, Paulson and Dubya.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s