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Friday, November 6, 2009

Roubini Economy could be hurt if oil gets to $100

By Barani Krishnan NEW YORK, Nov 4 (Reuters) - An economist noted for his early warning that the United States was headed for a housing bust and oil shock said on Wednesday that oil's jump to $80 a barrel is unjustified and that a run to $100 may cause economic stress the way record highs near $150 did last year. "Part of the rise may be justified by global economic recovery...but going from $30 to $80 when demand for oil is down to 2005 levels is very difficult to justify," said Nouriel Roubini, chairman and co-founder of the RGE
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Nouriel Roubini nicknamed Dr. Doom and lately Dr. Realist by CNBC , is a professor of economics at the Stern School of Business, New York University and chairman of RGE Roubini Global Economics, an economic consultancy firm . Prof. Nouriel Roubini A world-class economist who offers an unflinching look at the global meltdown and distinctive insights into its course going forward. His research on financial crisis in emerging economics has yielded a unique and now vindicated approach to future collapses. Roubini speaks on the global economic outlook and its implications for the financial markets. From his analysis of past collapses of emerging economies, he has identified common factors that support his predictions of crisis in the US and world markets. He has held several high-level advisory positions in the US government and international finance organisations, published numerous policy papers and books on key international macro-economic issues and is regularly cited as an authority in