When giving credit to Roubini do not forget about the Midwest Rusty Pickup Truck Millionaires

I know the people in the financial centers of NYC and London like to auto exalt.  They think the only valuable thinking goes on in financial centers because usually that is where the ideas catch on and go big time.  Nouriel Roubini gets much of the credit for foreseeing the financial crisis of 2008 and included the cause in his predictions.  The great financial centers like to pretend that other prognosticators do not exist.  Very convenient but what is the truth?

Reality?  Any one of the rusty pickup truck millionaires in the midwest of the USA could have told you just about everything this guy told you about the housing crisis and subsequent sovereign debt crisis.   The shame is they knew there were problems long before Roubini did.  The minute the crisis shows any signs of abating the lessons of the crisis will be lost again.  Worse yet the lessons of the rusty pickup truck millionaires about how to live, be happy and have a healthy economy will be ignored.