Nouriel Roubini Calls Jim Cramer a Shameless Buffoon

The day before he celebrated his 1,000th episode of "Mad Money," Jim Cramer got served by the dean of the global financial crisis, NYU Professor Nouriel Roubini. (via The Big Picture)

[Check out Nouriel Roubini: The $700 Billion Bailout Isn’t Enough]

"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."

Fresh from his demoralizing exchange with "The Daily Show" host Jon Stewart, it seems that Cramer has found himself in a fresh spat, this time with the economist who accurately predicted the subprime meltdown and the collapse of the credit markets several years back:

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's recent bottom in early March. The Standard & Poor's 500 index has rallied 17 percent since then.

It looks like a classic bear vs. bull matchup. Roubini--not surprisingly--says the current upturn in the market is simply another bear market rally, and expects equities head lower again soon. "Once people get the reality check than it's going to get ugly again," Roubini told the Associated Press.

Here's more on the Roubini-Cramer clash:

Roubini said Cramer should keep quiet.

"He's not a credible analyst. Every time it was a bear market rally he said it was the beginning of a bull and he got it wrong," Roubini said in an interview with The Associated Press.

Cramer has conceded he made some wrong calls, like most people watching the market. But he went on "Today" last October telling people that if they needed money in the next five years, take it out of the stock market. Anyone who heeded that advice saved money, he said.

Roubini said he supports Treasury Secretary Timothy Geithner's plan to remove toxic assets from the banks. Cramer recently wrote that Roubini and Nobel laureate New York Times columnist Paul Krugman are both on "the nationalization jihad."

"He keeps insulting me personally and saying a bunch of lies," Roubini said. "He doesn't even know I was supporting it so he says lies."