Cheerleader Journalist vs. Analysts: Inane vs. Sane

Here's the picture, via tpm, students: Nouriel Roubini and Nassim Taleb had a 3-hour long line to get into their talk at Davos.  Who was waiting to get in?  Folks like Bill Gates.

Roubini is "famous" now, so CNBC invites him and Tasseb on to the channel.  The problem is that either these journalists are too isolated, stupid or brainwashed to understand what Roubbini and Taleb had to say, or they are selling a product (unlimited growth, DOW 50,000!) that just doesn't exist right now.  They seem to think there is some sector that will give their portfolios a miracle cure, which is silly.  Our problems are systemic.*  It's not just banking or insurance or production or demand.  It's all entangled and until the finance sector clears its bad assets and can clearly put value on real, physical production (as opposed to circulating mathematical-model hedge funds that relate to no real-world products) then the system will not work.  It's really fascinating to watch these clueless people who seem to think that a little cheerleading is going to get everybody through this.  (Oh, and they also think that all bankers are geniuses and deserve high salaries for crashing the system.)

http://www.cnbc.com/id/15840232?video=1027496846

Video link 

*Of course, there will always be some stock somewhere that makes money.  The point is, Roubini and Tasseb are not talking about isolated stocks, but about a whole (screwed up) system.