European Tribune - Buy Stocks, They Said

there is at least a third probability of an L-shaped global near depression rather than the mere current severe U-shaped recession

1.

there is at least a third probability

How does he know this? Is his analysis really so good that he can quantify the likelihood? Or does he simply use a better brand of chicken entrails than I do?

2.

an L-shaped global near depression rather than the mere current severe U-shaped recession

Again: The shape of a downturn - U, V, L, whatever - is only apparent after the fact. How does he know today that right now we're in a U-downturn?

Granted, Roubini is a bright man with an excellent track record. His grasp of reality is obviously quite strong. And his call may well be correct.

But what bothers me is that he is couching the language of his prediction in the language of the stock shills: in the same kind of loose language that the Santellis, Cramers and other telenablers used to separate people and money.

Even serious people only know how to talk this way, it seems...

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman