Two of the most prominent market cynics appeared on CNBC this morning. Nouriel Roubini -- affectionately known as "Dr. Doom" -- was CNBC's guest host, and Nassim Taleb, the author of The Black Swan, spoke about his views on the market's recent rally.
Not surprisingly, they didn't pull any punches. When asked if he'd modified his characteristically pessimistic take on the economic crisis, Taleb responded with:
"It is a matter of risk and responsibility, and I think the risks that were there before, these problems are still there. We still have a very high level of debt, we still have leadership that's literally incompetent ..."
It you think that's harsh, WATCH:
Roubini, for his part, is not nearly as pessimistic as he used to be. In fact, he jokingly rebranded himself as "Dr. Realist." But, in the below segment he warns of a risk of a double-dip recession. The banking sector, Roubini said, is in no way out of the woods. Citigroup, Roubini pointed out, "was not effectively nationalized, but is still largely owned by the government."
On real estate, Roubini didn't back away from his claim that real estate prices would fall 40 percent cumulatively from their pre-crisis highs.