Today, Nouriel Roubini tossed out another tasty treat for his bear worshippers on Bloomberg:
“My main scenario is that it’s highly likely it goes to 600 or below (S&P 500)…Even if you do everything right with fiscal and monetary policy, we’re still going to be in a recession through the end of this year and into next year,”
Not to be outdone, Marc Faber, the other Ursa Major, wrote in his Gloom, Doom and Boom Report that:
Equities could rally between here and the end of April… but the S&P 500 may drop 27 percent to below 500 before the bear market ends.
These two, who I should note have been consistently right and were early in their calls for this bear market, are now in a race to see who can be the most negative, and who gets to keep the sobriquet Dr. Doom.
I’d say they are neck and neck right now, until one of them predicts a mass bird flu pandemic or a nuclear explosion.
If you were to invite these two guys to a dinner party, you would need to have Rip Torn there tossing confetti just to balance them out.
Maybe if these two would take a break from speaking to the media and the Obama finance team would STFU for 11 seconds, we could avert this whole end-of-the-world-thing.
Just a thought.