Nouriel Roubini talks horse sense about the death of Wall Street investment houses!

Nouriel Roubini talks hrose sense about the death of Wall Street investment houses! Main street economists take comfort in the fact that Herr Bush & co. are owning up to the fact that all ain't well in the economic house Herr Bush built! Now even John McCain is chiming in on change although he thinks that the US economy is fundamentally sound. Well, old darling, talk to Nouriel Roubini at NYU's Stern School of Business to wake up and start drinking the strong coffee of economic reality! Many of his peers and most pols and surely Herr Bush & co. will want to pooh pooh Dr. Roubini's bleak prognosis of the US and global economy, but they won't be able to in the medium term. Roubini rattles off with a hangdog look the wide extent of the crisis which touches every base in the domestic economy. He's not sour on the ability to overcome the crisis unless measures, more than bandaids which Herr Bush & co. are applying to the gaping economic wound, are taken with a seriousness which no one has seen yet. Obama is heading in the right direction, but he sould keep saying, 'it's the economy, stupid!' to the fatuous McCain line of economic soundness and fundamentals, since he and his party are the obvious culprits in the meltdown. If Roubini is right, even the mighty Goldman Sachs is teetering on the edge of extinction, but that remains to be seen. What we do sense from Roubini's quick study of the current crisis is seeing the decline of the US has top financial dog, this in spite of the global contraction of first world nations economies, and seepage into emerging markets which will feel the pain just as acutely as the US is at the time of this posting. Roubini deserves our thanks for the Scottish ice cold shower which should wake up Herr Bush & co. It won't, they simply are stalling for time so that they can pass on the mess that they created to
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