10/22/2008 - Nouriel Roubini on CNBC this morning

Here is the points of the interview :

1. The worst is yet to come.


2. The next few weeks and months are going to have lots of negative surprises on the economy


3. The flow of market news is going to be much worse than expected--just like last week when every piece of news was awful


4. Earnings are going to surprise on the downside. There's going to be a sharp fall in earnings, not just financial sector, but everywhere.


5. Even in financial system, where we avoided a systemic global financial meltdown by an epsilon, there will be significant risk downward. Emerging markets going into a crisis. Having a blow up of the CDS market. Having hundreds of hedge funds closing down.


6. So I significant downside risk for the financial markets and economy. I think the worst is yet to come.

CNBC Market Panel on October 22, 2008 part 1(click for video)

"The worst is still ahead of us"

CNBC: The Unfolding Financial Crisis on October 22, 2008 part 2(click for video)

"Most important key point is this not just a liquidity crisis, this is a credit and solvency crisis, next time bomb significant increase in default rates for corporates"

CNBC: Wall Street Crisis on October 22, 2008 part 3 (click for video)

"Keep things in cash"

Related Posts :

1. Nouriel Roubini: How to prevent contagion effects of the financial crisis in Hungary
2. The Full Nouriel Roubini Horror Speech
3. Roubini Warns of Possible Systemic Meltdown, "Severe Global Depression"

Sources :

1. RGE Monitor: Latest Roubini Talks and Interviews on the Severe Financial Crisis and Recession, October 22, 2008
2. ClusterStock: Roubini: Worst Is Yet To Come, October 22, 2008 12:00 PM
3. Calculated Risk: Roubini on CNBC, October 22, 2008 12:16 PM

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