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
two panic needs
What we need to understand is, one, that there are market failures; and two, that there are things like asset bubbles and irrational exuberance. There are periods of booms, bubbles, and manias. These things, if left to themselves, can lead to crashes, to busts, to panics.
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.
country thinking ethnicity
I think globalization actually maintains and fosters various elements of national and cultural identities. I don't think everything is being homogenized. If anything, your food, your culture, and your ethnicity might become part of the globalized world, and thus absorbed by other countries.
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.
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.
loss profit continuing
We're essentially continuing a system where profits are privatized and...losses socialized,
pain thinking anxiety
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.
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.
believe people political
I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential - not excessive - regulation of the financial system.
economics modern crisis
In the history of modern capitalism, crises are the norm, not the exception.
thinking keys investing
I think investing in a good education has been key for me, although the investment was more in time than money.
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.
technology gains population
The gains from technology must be channeled to a broader base of the population than has benefited so far.
home leads prices supply
A home is a home, and excess supply leads to prices falling.