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Sunday, February 28, 2010

Nouriel Roubini : Spain has become The battle ground for the future of Europe.

Nouriel Roubini

Nouriel Roubini on The Spanish Economic Crisis : Zapatero has exacerbated the problems of Spain Roubini wrote in El Econimista


Dr.Nouriel Roubini wrote an article the Spanish magazine El Economista in which he explained that Spain is headed for some hard time : "“It’s true that Spain is not Greece, yet it’s not Ireland either, but if such an important economy is unable to stop the deficit slip toward the debt levels of Greece, the distinctions will end up being merely academic,” Roubini wrote , "Zapatero has exacerbated the problems in managing the crisis" and Labor wants to eliminate subsidized contracts
Full Article in Spanish >

Friday, February 26, 2010

Nouriel Roubini, special guest on Central South-East European financial forum in Romania

Nouriel Roubini

Nouriel Roubini, Dr. Doom will be in Romania in May


Famous economist Dr. Doom Nouriel Roubini, , will be special guest of the Central & South-East European financial forum at the invitation of Forum Invest scheduled for May 24-26, this is the the seventh edition of the most important annual financial event in Romania, organized by Forum Invest and National Bank of Romania.

Thursday, February 25, 2010

Nouriel Roubini New Book Coming Soon

Crisis Economics: A Crash Course in the Future of Finance by Nouriel Roubini and Stephen Mihm, scheduled to be released on May 11, 2010.
description from Amazone.com :
This myth shattering book reveals the methods Nouriel Roubini used to foretell the current crisis before other economists saw it coming and shows how those methods can help us make sense of the present and prepare for the future.
Renowned economist Nouriel Roubini electrified his profession and the larger financial community by predicting the current crisis well in advance of anyone else. Unlike most in his profession who treat economic disasters as freakish once-in­a-lifetime events without clear cause, Roubini, after decades of careful research around the world, realized that they were both probable and predictable. Armed with an unconventional blend of historical analysis and global economics, Roubini has forced politicians, policy makers, investors, and market watchers to face a long-neglected truth: financial systems are inherently fragile and prone to collapse.
Get It From Amazon :

Tuesday, February 23, 2010

Roubini Sees Dismal Growth

Nouriel Roubini

Simon Kennedy and Erik Schatzker
Bloomberg
February 2, 2010
Nouriel Roubini , the New York University professor who anticipated the financial crisis, said the U.S. growth outlook remains “very dismal” and White House economic adviser Lawrence Summers said the economy is still mired in a “human recession.”

Speaking at the World Economic Forum’s annual meeting in Davos, Switzerland, after the U.S. reported the fastest growth in six years, their comments underscored concern that that emergency measures to rescue banks and fight the recession may be withdrawn too soon.

“The headline number will look large and big, but actually when you dissect it, it’s very dismal and poor,” Roubini said in a Jan. 30 Bloomberg Television interview following a U.S. Commerce Department report that showed economic expansion of 5.7 percent in the fourth quarter. “I think we are in trouble.”

Read entire article

Friday, February 19, 2010

THE MOTHER OF ALL CARRY TRADES : Nouriel Roubini

Nouriel Roubini

U.S. zero benchmark interest could lead to global asset bubbles



"Risky asset prices have risen too much, too soon and too fast compared with macroeconomic fundamentals," Nouriel Roubini, professor at New York University's Stern School of Business and chairman of RGE Roubini Global Economics, wrote in an article at the end of last year.

"So what is behind this massive rally? Certainly it has been helped by a wave of liquidity from near-zero interest rates and quantitative easing. But a more important factor fuelling this asset bubble is the weakness of the U.S. dollar, driven by the mother of all carry trades," Roubini explained.

The U.S. dollar has become the major funding currency of carry trades as the Fed has kept interest rates on hold and is expected to do so for a long time, he added.

Roubini, one of those few economists who accurately predicted the outbreak of the global financial crisis, has been called Dr. Doom for his consistently pessimistic yet accurate economic and financial observations.

Roubini argued that the dollar carry trade, which he called mother of all carry trades, has created what he believed "mother of all highly leveraged global asset bubbles" and those bubbles would inevitably face bust when the borrowing costs of dollar funds start to rise.

via Xinhua News

Thursday, February 18, 2010

Roubini on Retail Sales Numbers CNBC 12 February 2010

Consumption growth is anemic says Nouriel Roubini


people are running out of money to spend earlier in the month says Nouriel Roubini in an economy where consumption counts for 70% of the GDP , that's the real problem with the economy ....
Getting reaction to the latest retail data, with Jerry Webman, of Oppenheimerfunds, and Kevin Ferry, of Cronus Futures Mgmt.










Friday, February 12, 2010

Nouriel Roubini : The difference between Greece Debt and The US Debt is The Printing Press

Roubini on Greece and California Debt Similarities and Differences


Nouriel Roubini explains the differences and similarities between the debt crisis of California and New York and that of Greece , Roubini points out the California is a much bigger to the US economy than is Greece to the European Union , in fact California is one seventh of the American economy while Greece is only three per cent of the European economy but unlike the US Greece does not have control over the printing press of the Euro so it cannot monetize its debt as did the United States a while back........Insight on the rolling debt crisis, with David Malpass, Encima Global; Nouriel Roubini, RGEmonitor.com; and Andrew Ross Sorkin, The New York Times.











Thursday, February 11, 2010

Nouriel Roubini : Greece problems are only The tip of the iceberg

Nouriel Roubini

Roubini Greece Bailout is a step in the right direction



Nouriel Roubini thinks that the Greece bailout by the European Union is a step in the right direction althout he would have preferred for Greece to go through a formal IMF structural Program . Roubini also believes that the Greece problems are only the tip of a bigger iceberg , the rest of the PIIGS countries are not in a better shape than Greece , Portugal and its neighbor Spain may soon come to Brussels to ask for their bailouts too following Greece footsteps
"It is a step in the right direction even if my favored choice for Greece is to get a formal IMF program,"
Nouriel Roubini said
"IMF lending is based on conditionality of achieving certain fiscal and structural goals. In the case of loan guarantees, it's very hard to make those loan guarantees conditional...you either give them—or don't give them." Roubini added ...
Source CNBC

Roubini : Russia Needs a Crisis to Change

Russian Economy is a one commodity economy , It would take a sharp fall in the price of oil or another crisis to change Russia's economic system for the long term, Nouriel Roubini, economist and New York University Professor, told CNBC Thursday.

Wednesday, February 10, 2010

Roubini Dollar Will Fall 15 to 20 Percent

Nouriel Roubini
“I see anemic recovery of economic growth in the U.S., and the U.S. current account (deficit) is still very large,” New York University Professor Nouriel Roubini, a professor , said at the Troika Dialog Russia Forum in Moscow , as reported by Bloomberg.

“In the next two or three years, the dollar has to weaken further on a trade- weighted basis.”

Regarding The American Economy Roubini Said “There’s going to be better economic news for a couple of quarters due to temporary factors, such as restocking, fiscal stimulus, and base effects,” .

“In the second half, economic weakness is going to reappear again. On a trend basis, the dollar has to weaken.” Roubini added

Monday, February 8, 2010

Nouriel Roubini on Russian Economy and Greece Debt Default

Nouriel Roubini Does not believe that Greece will go bust thanks to the EU or IMF bailout


Feb. 3 (Bloomberg) -- New York University Professor Nouriel Roubini talks with Bloomberg's Ryan Chilcote about the prospect of Greece defaulting on its debt. Speaking at the Troika Dialog Russia Forum in Moscow, Roubini also discusses the outlook for the Russian economy.


Nouriel Roubini seesThe Stock Market Flat Over The Year

Nouriel Roubini Discusses Outlook for U.S. Stock Market



New York University Professor Nouriel Roubini talks with Bloomberg's Carol Massar and Matt Miller about the U.S. federal budget deficit and the outlook for the stock market in 2010.

The stock market will be “flat,” or almost unchanged, through the end of the year, Nouriel Roubini said after the Standard & Poor’s 500 Index posted its biggest losses since March.

Thursday, February 4, 2010

Nouriel Roubini outlook about The Market the Stocks financial market and economy in general for 2010


1/26/10: In preparation for President Obama's first State of the Union address, economist Nouriel Roubini gives his perspective of what economic challenges we'll face this year and answers CitizenTube users' questions on the financial crisis

Questions from users:
"The biggest problem facing America today is that the people in Washington making economic decisions pay absolutely no price for being wrong. I understand many of them have really good intentions for the country, and they want America to get out of this economic slump, but that's simply not the way to do it. The only way to bring America out of this economic crisis is to allow private citizens to make their own choices without the government acting as a third party an intervening. The government should just get out of the way, it has enough to worry about."
-YouTube user: HowTheWorldWorks

"Why is the government copying the same formula that got us into the recession as its only plan for recovery?"
-Jennifer
Roubini outlook about The Market the Stocks financial market and economy in general

Wednesday, February 3, 2010

RGE Arnab Das Says Greece Needs More Budget Cuts

Feb. 3 (Bloomberg) -- Arnab Das, managing director of market research and strategy at Roubini Global Economics, talks with Bloomberg's Francine Lacqua and David Tweed about Greece's plan to cut its budget deficit. Greece’s proposal to cut the European Union’s biggest budget deficit won European Commission backing after the government announced additional measures to reduce the shortfall and try to quell investor concern that the nation may need a bailout. (Source: Bloomberg)

Nouriel Roubini Dr Realist not Dr. Doom anymore

Roubini
After Nouriel Roubini announced in Davos that he no more cares about the previous nickname of Dr. Doom and that he preferred to be called Dr. Realist , CNBC a vote for its viewers to find a new nickname for Dr. Nouriel Roubini and the Results are as follow :

  • Roubini the Realist (25%)
  • Sir Fretalot (24%)
  • Dr. Know (17%)
  • Dr. Real (17%)
  • Dr. Toldya (17%)

It was a close call. Other suggestions included Dr. Feelgood, Dr. Gnostic, Contrarian the Barbarian and Dr. Armageddon.

Tuesday, February 2, 2010

Roubini Now Sees a Flagging Recovery

Roubini Now Sees a Flagging Recovery



Nouriel Roubini, the New York University professor, nicknamed "Dr. Doom" for predicting disaster before the credit crisis, has again turned very negative on the U.S. economic recovery. There was a time, for a few months, when he thought the recession would end and modest growth would return. But whatever positive views Roubini may have had seem to have completely disappeared. During an address at the annual summit of business and political leaders in Davos, Switzerland, he said the economy was once again under dark clouds.

"The headline number will look large and big, but actually when you dissect it, it's very dismal and poor," Roubini said in a Jan. 30 Bloomberg Television interview referring to the initial measure of 5.7% economic growth in the U.S. for the fourth quarter. He added, "I think we are in trouble." He expressed his concern that the robust increase in the fourth quarter was due largely to inventory replenishment. He also predicts that GDP growth would slow to 1.5% in the second half as the impact of the stimulus package begins to dissipate.
Read article

Monday, February 1, 2010

Davos Debate The Economic Crisis and how to solve it with Nouriel Roubini and George Soros

With Senator Bill Bradley, Niall Ferguson, Paul Krugman, Nouriel Roubini, George Soros, and Robin Wells; moderated by Jeff Madrick and introduced by Robert Silvers

The New York Review of Books brings together contributors—Niall Ferguson, Paul Krugman, George Soros, and Robin Wells—with Senator Bill Bradley and Nouriel Roubini to discuss the economic crisis facing America and the world. Robert Silvers, editor of the Review, introduces the speakers and Jeff Madrick moderates.Cosponsored by The New York Review of Books www.pen.org

Roubini Others Will Follow Greek Tragedy

The debt overhang is threatening the global economy, Niall Ferguson, professor of history at Harvard University, told CNBC











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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