Charting Stocks

This video originally aired in December of 2007 in a classic Bull-Bear debate on the “Goldilocks Economy.”

The Bear, Dr. Nouriel Roubini, accurately predicted the coming crash as Brian Westbury, Chief Economist at First Trust, offered anecdotal evidence to support his Goldilocks theory such as parking availability at shopping malls and the number of empty chairs at his local restaurant.

One would think that Mr. Westbury would be “spending more time with his family” these days, but no. He remains Chief economist at First Trust.

Larry Kudlow, the still host of his own CNBC show, had spent the entire year of 2007 cheerleading for his Goldilocks economy while mocking those who warned about the dangers ahead. Check out Larry’s 2007 Blog post in which he professes “The recessionists are wrong. The bears are wrong. The pessimists are wrong. The doom and gloom crowd is wrong. We are witnessing the Bush/Bernanke boom. It is still the greatest story never told.” Never told because it didn’t happen, Larry.

Related posts:

1. Northern Trust: Bailed Out Bank Spends Millions on Lavish Party
2. Forecast 2009: There Will Be Blood
3. Flashback: Jim Cramer on Bear Stearns
4. Top 10 Economic Predictions & Forecasters for 2008
5. Review of 2008 Predictions a la Wall Street’s “Finest”