Why don’t Austrians [we] stop attacking typical Keynesians like Krugman, and go into deeper Keynesians like Roubini. I mean the arguments against Krugman (though right-as far as I know) are getting pretty boring.
What does Roubini say that is Kenesians? (excuse my ignorance)
Because no one knows who Roubini is, but Krugman is a famous economic commentator.
Who is this “we” you speak of? Are we a monolithic collective?
I think you need to turn in your Austrian membership card. No true Austrian would use the pronoun “we” in such a way.
From what i know Roubini doesn’t say much. I guess he predicted the housing meltodown etc. But he is not a prolific writer, and his public commentary mostly consists of giving his predictions, and just parroting some moderate interventionist line.
Roubini has been predicting an imminent bust more or less every year since 2004 (or at least in 2004, 2005 and early 2007):
“Nouriel Roubini, an economist at New York University who was worried about a global recession in 2004, is now predicting that “the U.S. is heading toward a sharp recession by early 2007.” In his view, “current economic and financial conditions in the U.S. eerily resemble those that led to the stock market crash in October, 1987.””
Source
Now, being a “permabear” doesn’t fully discredit him. After all, even Austrians have been saying that the collapse is coming for a long time (though on a theoretical basis, not claiming to know in detail how and when). My problem is simply that he put very specific time frames on his predictions and claimed to know in detail what happens and they didn’t come through. And in addition it should be noted that he was talking about the NBER definition, which makes this even more inaccurate.
Also, I don’t have the link any more, but his 2006 IMF speech wasn’t exactly accurate. I remember him predicting worldwide stock market shutdowns and such, none of which happened in the time frame he set.
Roubini was on Bill Maher last night talking about how Spam is more valuable than gold. He said that ‘at least you can eat Spam’
I thought that a lot of Austrians predicted the 2008 crash, as well as the great depression…
Anyway, predicting stock market trends is for traders. Like Peter Schiff.
That seems to answer the OP: they’re all boring. So may as well pick the most vocal ones.
“Roubini was on Bill Maher last night talking about how Spam is more valuable than gold. He said that ‘at least you can eat Spam’”
More valuable to who? To someone lost in the wild without food yes, to someone living in a city with easy acess to food, no.
Did he really said “at least you can eat Spam” with those words? So by his logic a can of spam is more valuable than an airplane, at least you can eat spam.
…he was joking, right? Nobody could say that and be serious. Is he going to tell us to invest in water instead of diamonds next because “at least you can drink water”?
The man that predicted the economic and financial collapse two years ago advised people that are concerned about inflation to buy Spam rather than gold.
As you can’t turn on a TV these days without seeing an ad for gold or some economist recommending you buy the precious metal, Nouriel Roubini’s comment on Friday’s “Real Time” deliciously went against the tide of financial advisors across the fruited plain.
“Gold has no intrinsic value,” he amazingly told host Bill Maher. “If you’re really worried about say inflation rising, I would buy Spam.”
Roubini continued, “You know, you can eat Spam, you cannot eat gold”