Friday, April 2, 2010

Roubini amongst The 10 new gurus you should know according to CNN Money

Nouriel RoubiniNouriel Roubini Professor of economics at NYU Stern School of Business, New York City was chosen by CNNMoney amongst the 10 new gurus you should know , dr. Roubini nicknamed Dr. Doom became famous when he predicted the Housing market collapse back in 2006
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 the media..Roubini speaks fluently English Italian Farsi Turkish and Hebrew . After receiving BA in political economics at Bocconi University in Milan northern Italy , and doctorate in international economics at Harvard University, he began academic research and policy making by teaching at Yale while also spending time at the International Monetary Fund (IMF), the Federal Reserve, World Bank, and Bank of Israel. Much of his early studies focused on emerging markets. During the administration of President Bill Clinton, he was a senior economist for the Council of Economic Advisers, later moving to the United States Treasury Department as a senior adviser to Timothy Geithner, who is now Treasury Secretary.

In 2008, Fortune magazine wrote that: "In 2005 Roubini said home prices were riding a speculative wave that would soon sink the economy. Back then the professor was called a Cassandra. Now he's a sage." In September 2006, he warned to a skeptical IMF that: "The United States was likely to face a once-in-a-lifetime housing bust, an oil shock, sharply declining consumer confidence, and, ultimately, a deep recession." He also foresaw "homeowners defaulting on mortgages, trillions of dollars of mortgage-backed securities unraveling worldwide and the global financial system shuddering to a halt". The New York Times labeled him "Dr. Doom", whereas, in hindsight, IMF economist Prakash Loungani has called him "a prophet".
As Roubini's descriptions of the current economic crisis have proven to be accurate, he is today a major figure in the U.S. and international debate about the economy, and spends much of his time shuttling between meetings with central bank governors and finance ministers in Europe and Asia. Although he is ranked only 410th in terms of lifetime academic citations,
Prospect Magazine, in January 2009, voted him #2 on its "list of the world’s 100 greatest living public intellectuals". In 2009, Roubini was ranked #4 on Foreign Policy magazine's list of the "top 100 global thinkers", and named one of the 100 most influential people in the world by Time magazine. He has recently appeared before Congress, the Council on Foreign Relations, and the World Economic Forum at Davos.

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