There are too many digs to repeat so click through to read it all because it’s worth it. Roubini has had enough of Cramer and is brutal. He’s also right.
“Cramer is a buffoon,” said Roubini, a New York University economics professor often called Dr. Doom. “He was one of those who called six times in a row for this bear market rally to be a bull market rally and he got it wrong. And after all this mess and Jon Stewart he should just shut up because he has no shame.”
Cramer recently wrote in a blog that Roubini is “intoxicated” with his own “prescience and vision” and said Roubini should realize that things are better since the stock market bottom in March.
Roubini said in 2006 that the worst recession in four decades was on its way. He has attracted attention for his gloomy — and accurate — predictions of the U.S. financial market meltdown.
Every time there is a small gain or the market has become exhausted from selling off, CNBC is always there to pitch the new bull market that doesn’t exist. Their entire existence has been called into question with this recession because they lost all credibility. The entire network is nothing other than a bunch of cheerleaders who are unable to offer any criticism of the system they helped create. The sooner they are sent to the junk pile and shoved aside for a real business network, the better.