Game On: Buffoon (Cramer) vs Dr. Doom (Roubini)
Holy cow, just weeks after Cramer exited Jon Stewart’s stage with his tail between his legs he has another dustup to deal with. He has been laying into Roubini of late, apparently emboldened by this faux rally and extolling Doug Kass’ bottom call a month ago...but Roubini is fighting back, dogging Cramer last night in a Toronto appearance sponsored by Sprott:
“Cramer is a buffoon,” said Roubini, a New York University economics professor often called Dr. Doom. “He was one of those who called six times in a row for this bear market rally to be a bull market rally and he got it wrong. And after all this mess and Jon Stewart he should just shut up because he has no shame.”
Cramer recently wrote in a blog that Roubini is “intoxicated” with his own “prescience and vision” and said Roubini should realize that things are better since the stock market bottom in March. Stocks have rallied 26 percent since.
Roubini said in 2006 that the worst recession in four decades was on its way. He has attracted attention for his gloomy - and accurate - predictions of the U.S. financial market meltdown.
Roubini said the latest surge is just another bear market rally following the pattern of other rallies after the government intervened. He expects the market will test the previous low because of worse than expected macroeconomic news, disappointing earnings and because banks will fail after the stress tests come out.
“Once people get the reality check than it’s going to get ugly again,” Roubini said.
Roubini said Cramer should keep quiet.
“He’s not a credible analyst. Every time it was a bear market rally he said it was the beginning of a bull and he got it wrong,” Roubini said in an interview with The Associated Press.
Cramer has conceded he made some wrong calls, like most people watching the market. NY Post
I have a feeling this is not the last we hear of this.....
Economist Nouriel Roubini lashes out at CNBC host
NY Post
Market bear Roubini sticks to dour forecasts
Reuters
Twitter: A night with the bears
Globe and Mail
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