Midweek Musings – Mini the Minski?

Doom and Gloom

If you think my writing is sometimes critical of the illogical and at the moment over optimistic valuation of many listed equities, especially in the USA, then find an article or video on-line by Professor Nouriel Roubini, an economist at New York Universtity’s Stern College of Business. He has been nicknamed ‘Dr Doom’.

In one of his periodic articles published last week, he referred to his expectation of a Minsky Moment. The definition of such an event was not known to me, so I looked it up, of course. Wikipedia summarises it as ‘a sudden, major collapse of asset values which marks the end of the growth phase of a cycle in credit markets or business activity’.