The fake Dr. Doom

Things must be getting bad. They’re so bad that Nouriel Roubini actually thinks he can risk turning bearish again:

Speaking at the Ambrosetti Forum on the shores of Lake Como, near Milan, Roubini said in an interview: “We are in a worse situation than we were in 2008. This time around we have fiscal austerity and banks that are being cautious.” Roubini, known for his bearish views on the world economy, thinks that there is a 60 percent chance of a second recession imminently.

This guy is a complete fraud. He got lucky once, and ever since has been sticking to the mainstream consensus expectations for fear he’ll be wrong again. If he’s saying “there is a 60 percent chance of a second recession” that really means that the statistical shenanigans that disguise the ongoing 2008 to 2011 depression as a recovery are failing.