Five Americans Who Predicted the Financial Turmoil

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The financial events that began late last year now seem interminable. Was it possible that there were prognosticators in America that were left unheard? Well actually, more than a few. Here are five Americans who saw the financial turmoil on the horizon…

Nouriel Roubini – Economics Professor at New York University

Dr Roubini, also dubbed ‘Mr Doom’ is renowned for his prognostications on the state of the financial market. On September 7, 2006 in a meeting of the International Monetary fund (IMF) he predicted an historic US housing crash, soaring oil prices, and a halt in consumer spending resulting in a deep, drawn-out recession.

Roubin, now hailed as the new financial “prophet of his generation” travels the world advising economists and leading businessmen of the best way forward in this ‘new monetary era’.

Since 2003, Mr Paul has been warning of a painful crash in the US housing market. Echoing the predictions of his economic advisor, Peter Schiff, his claims that we were headed for a ‘deep recession’ were dismissed as fallacy. In an interview in September 2008 he proclaimed: “we are on the verge of collapse”.

Kevin Phillips – Political Historian

Former strategist in the Nixon Whitehouse and author of “Bad Money”, Mr Phillips made sobering predictions about America’s deteriorating financial health. Phillips claims were based on the US dependency on oil and rising debt underpinned by problematic political and financial systems. He warned of an explosion of a “debt bubble” that had formed over a period of 25 years with housing, he states “being the lit fuse”.

 Stephen Roach – Economist and Senior Executive at Morgan Stanley

A PhD graduate from New York University, Mr Roach predicted a financial crisis in 2004 at a time when the US has supposedly recovered from the hang over of the 2001 world recession. His bearish outlook was dismissed by many.

More recently he has accused banks of “being asleep at the switch” and “failing to provide a stable underpinning to world financial markets in an increasingly asset-dependent global economy.”

Laura Day – Wall Street Psychic

 ‘Intuitionist’ Laura Day had predicted a downward turn in the economy for many US companies. The 49-year-old mother has earned millions in the past 15 years advising corporations and influencing billion-dollar business deals. Her clientele include Hollywood starlets Demi Moore and Jennifer Aniston. Her website, http://www.practicalintuition.com/ lists upcoming tour dates and published works.