Nouriel Roubini. Yes, the Facebooking, globe-trotting, tan ugly girl skeezing economist who supposedly predicted the severity of the financial crisis long before anyone had a clue things were falling apart. We don't really read RGE Monitor, nor do we care all that much what he's got to say but this is sort of funny. Wonder if he is going to disclose that 55 gallon drum of Kool-aid he obviously got comped to say this crap?

Worst behind us but more stimulus needed: Roubini (via Reuters):

Nouriel Roubini, one of the few economists who accurately predicted the magnitude of the financial crisis, said on Thursday that the worst of the turmoil has passed.

But Roubini emphasized the United States will still need a second fiscal stimulus, possibly by the end of this year, as the unemployment rate quickly approaches 10 percent.

Developed economies are bottoming out or close to doing so, but the recovery will be anemic, with the United States remaining in recession throughout the year, said Roubini, who is chairman of RGE Global Monitor.

"There is light at the end of the tunnel, there is a bottoming out of the U.S. and of the global economy. And the light at the end of the tunnel for once is not an incoming train," Roubini told investors at an event organized by the Chilean government in New York.

"In many ways, the worst is behind us in terms of economic and financial conditions."

Stock markets rallied after some news reports quoted Roubini as saying the recession will be over this year and that his economic outlook had improved.

He issued a statement late Thursday that "despite those reports -- however -- my views expressed today are no different than the views I have expressed previously. If anything, my views were taken out of context."

Well you heard it there first, kids, crisis over, everything is under control, you can now go back to your jobs and... oh. Wait. Yeah.

I'm going to laugh when the light at the end of the tunnel ends up being not a train but a 700 pound inflationary beast with glow-in-the-dark eyes and 666 burned into its forehead. Then I'll cry, but first a nice hearty "I told you so" giggle, surely.

Bah. Don't pay attention.