2014 Predictions: Dr. Doom Changes His Tune
Economist Nouriel Roubini — also known as Dr. Doom — correctly called the housing market collapse and global recession. It made his career, transforming the New York University economist into a well-known talking head. After getting those calls right, Roubini stayed bearish throughout the post-recession period, so much so that he became known as a permabear.
But after missing the entire 170% rally in stocks since the market bottomed in 2009, Dr. Doom has finally changed his tune. Indeed, his 2014 prediction is actually bullish: “The good news is that economic performance will pick up modestly in both advanced economies and emerging markets,” Roubini writes, forecasting 1.9% growth for the world’s advanced economies.
Of course, Dr. Doom has been wrong for so long that maybe all those rosy 2014 predictions will prove to be horribly wrong, too.