Roubini studying Alstrynomics????
“I’ve found that credit losses could peak at a level of $3.6 trillion for U.S. institutions, half of them by banks and broker dealers,” Roubini said at a conference in Dubai today. “If that’s true, it means the U.S. banking system is effectively insolvent because it starts with a capital of $1.4 trillion. This is a systemic banking crisis.”
Although, arguably the best of the mainstream exonomists, I have said on more than one occasion that Nourial was about six months behind the estimates provided by the application of Alstrynomics. At this point, I think Mr. Roubini is about a Trillion or two shy or current projections.....but expect him to raise his estimates in the next few quarters.
Again, prepare....don't fear....it is about to get a LOT worse.....but then it will get better.....I hope.