Nouriel Roubini
Nouriel Roubini
Nouriel Roubiniis an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics, an economic consultancy firm...
NationalityAmerican
ProfessionEconomist
Date of Birth29 March 1958
CountryUnited States of America
loss profit continuing
We're essentially continuing a system where profits are privatized and...losses socialized,
loss views people
If we didn't have greed, market economies wouldn't be as innovative as they are. But in my view, greed has to be contained by the fear of losses, so there has to be a system where, if you take too much risk, you go into bankruptcy. You don't systematically bail out people who take excessive risks.
risk financial economic
The global financial crisis - missed by most analysts - shows that most forecasters are poor at pricing in economic/financial risks, let alone geopolitical ones.
economics modern crisis
In the history of modern capitalism, crises are the norm, not the exception.
stress doe relief
The Treasury plan is a disgrace: a bailout of reckless bankers, lenders and investors that provides little direct debt relief to borrowers and financially stressed households and that will come at a very high cost to the US taxpayer. And the plan does nothing to resolve the severe stress in money markets and interbank markets that are now close to a systemic meltdown.
running believe long
I believe investors should invest for the long run, so I don't buy and sell. I usually maintain the classic index of global equities, diversified U.S. and global and emerging markets, and when the risk is larger, I diminish the amount in global equities and put more into liquid assets - but very irregularly.
running kindness might
Once you run current-account deficits, you depend on the kindness of strangers. This might be the beginning of the end of the American empire.
loss years law
But in the financial markets, without proper institutional rules, there's the law of the jungle - because there's greed! There's nothing wrong with greed, per se. It's not that people are more greedy now than they were 20 years ago. But greed has to be tempered, first, by fear of losses. So if you bail people out, there's less fear. And second, b prudential regulation and supervision to avoid certain excesses.
views banking problem
You have to eventually nationalize US banks, you have to take the problem by the horns. In my view actually most of the US banking system is insolvent.
told-you-so oxymoron funny-oxymoron
I am not going to say I told you so, but I did.
oxygen years fire
Having spent 10 years studying emerging markets, I know that you have patterns repeated over and over again. A bubble is like a fire which needs oxygen to continue... when you see there is no oxygen, things change.
normal alive humans
I am just a normal human being - I am alive! Why is anyone surprised that I am human? Like many New Yorkers, I have a multifaceted life.
gold credit causes
In an extreme credit crunch, leveraged purchases of gold cause forced sales, because any price correction triggers margin calls. As a result, gold can be very volatile - upward and downward - at the peak of a crisis.
gold rising worried
Gold has no increasing value. And if you're really worried about, say, inflation rising, I would buy Spam. You know, you can eat Spam. You cannot eat gold.