I just found this list on The Guardians website (link to a blog of The Times), of ten people they say predicted the financial meltdown.
Here is the short list, more details/analysis on each person/group are available at the article.
1. Vince Cable - deputy leader of the Liberal Democrats
2. Christopher Wood – chief strategist of CLSA, a broking firm in the Asia-Pacific Market.
3. Founders of www.stock-market-crash.net – website aimed at investors
4. Henry Weingarten - astrologer
5. Nouriel Roubini - economics professor
6. Nikolai Kondratiev - Russian Marxist economist
7. Founders of Housepricecrash.co.uk – property website
8. Lord Oakeshott - Liberal Democrat Treasury spokesman
9. Stephen Roach - senior executive at Morgan Stanley
10. Ron Paul - Republican Congressman
I was pleased to see that Vince Cable and Lord Oakeshott are listed, of the three major parties in the UK, I am probably closest to the Lib dems (They
are still a little too right wing and authoritarian for me, but not as bad as Labour/Tory).
Of course of interest to many people on this website is that Ron Paul (and Peter Schiff, his advisor) is listed, something that makes that more
interesting is that The Guardian is seen as a very left wing newspaper, so to link to an article giving credit to an economic right winger like Paul
is an interesting turn of events. I'm not so sure on Paul though, although he does seem to have got this right, he seems to have been predicting
doom for his whole career, so was bound to hit at some point, however I agree with his general view that the current system is broken.
Chomsky gave an interesting analysis of this kind of situation a few years back (I believe in regard to S&L, but relevant), that these banks/business
people are capitalist until they get into trouble, at which point they become oddly socialist in their request for bail-outs. If we are going to have
some form of socialism in our governments, I'd rather the hand outs were targeted at regular, poor, hard working people, not banking vultures who've
had their chance and money and thrown it away by bad decisions or fraud.
The comments on the article have a number of other nominations for people who got it right, including Klugman, the recent Nobel winner, and even
George Ure (of web-bot fame!)
EDIT: whoops, forgot the link
[edit on 19/10/2008 by bobafett]