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
amount asset attempt buy direct effect foreign investment lots lucky material restrict risky
Anything that makes your attempt to buy an asset more risky can have a material effect on the amount of investment we get. These days, we'd be lucky if we get lots of foreign direct investment. We should not restrict it. We should make it easier.
delicate disaster economy economy-and-economics massive might natural oil shock top
This is a very delicate moment. The economy is already very imbalanced. On top of that, we've had a massive oil shock and now we have a natural disaster that might be something of a tipping point.
chinese trying
The Chinese are trying to do the least they can. They want to set their own pace.
belts consumers country excesses large running save spending
The U.S. has been living in a situation of excesses for too long. Consumers were out spending more than their income and the country was spending more than its income, running up large current-account deficits. Now we have to tighten our belts and save more.
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The ability to send a 'sell' order that roils markets may not give China a veto over U.S. foreign policy, but it surely does increase the cost of any U.S. policy that China opposes.
above assets continue current dangers foreign foreigners form fraction high increasing owning patterns percent spending stop whining
If we continue with our current patterns of spending above our incomes, by 2013 the U.S. foreign liabilities could be as high as 75 percent of GDP and an increasing fraction of such liabilities will be in the form of equity. So, let us stop whining about the dangers of unfriendly foreigners owning our firms and assets and get used to it.
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A home is a home, and excess supply leads to prices falling.
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I think it's a very negative signal we're sending to the world. We don't have the luxury to snub the world.
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Our ability to finance ourselves depends upon the willingness of foreign central banks to hold dollars. That willingness is going to be shrinking (this) year.
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Global imbalances are growing, cross-border financing needs are increasing and a smooth-functioning financial system is now essential for this.
technology gains population
The gains from technology must be channeled to a broader base of the population than has benefited so far.
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I think it's true that the 1 Percent or the elite are living in a world of, maybe, excessive privilege, and they don't fully realize how much pain and suffering, how much anxiety exists out there.
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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.