And by Time, I don’t mean the magazine.
Nov. 4 2009 (Bloomberg) — Nouriel Roubini, the economist who predicted the global economic crisis, said a forecast by investor Jim Rogers that gold will double to at least $2,000 an ounce is “utter nonsense.”
“Maybe it will reach $1,100 or so but $1,500 or $2,000 is nonsense,” Roubini said.
Let’s see what Rogers had to say during the same 2009 period.
Financial Times November 3, 2009.
(Video follows excerpts and commentary)
I do expect a currency crisis, or semi-crisis, some time in the next year or two because there are so many imbalances in the world. And, that may sound radical but it’s always worked that way whenever there have been lots of problems you’ve had problems in the currency markets.
This is the power of Austrian economic theory vs. Keynesian gibberish. Rogers applies common sense logic while Roubini throws all common sense out the window. The difference in the accuracy of their predictions needs no further commentary on my part.