Friday, December 31, 2010

Housing Crisis, Health Insurance, Top 5 Political WTF Moments! 12/29/10.

Noted economist Nouriel Roubini says the American housing market is heading for a double-dip recession. Thom talks to economist John Lott about what this could mean for the U.S. economy. Then, a new report reveals that the number of people in the U.S. without health insurance has topped 50 million, more than the population of Spain. Thom talks with Wendell Potter about the ill state of American healthcare. Finally, Thom counts down the Top 5 Political WTF moments of 2010.

Monday, December 27, 2010

Nouriel Roubini : on THE STATE OF THE WORLD

Nouriel Roubini and Raghuram Rajan on the benefits and risks of quantitative easing, the rush of funds into emerging markets and India's growth in 2011.

Crisis Economics by Nouriel Roubini, Stephen Mihm

Audiobook: Crisis Economics by Nouriel Roubini, Stephen Mihm

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This myth-shattering book reveals the methods Nouriel Roubini used to foretell the current crisis before other economists saw it coming and explains 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-a-lifetime events without clear cause, Roubini, after decades of careful research around the world, realized that they were both probable and predictable. Armed with a 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.
Drawing on the parallels from many countries and centuries, Nouriel Roubini and Stephen Mihm, a professor of economic history and a New York Times Magazine writer, show that financial cataclysms are as old and as ubiquitous as capitalism itself. All of these crises have much in common with the current downturn. Bringing lessons of earlier episodes to bear on our present predicament, Roubini and Mihm show how we can recognize and grapple with the inherent instability of the global financial system and plan for our immediate future. Perhaps most important, the authors - considering theories, statistics, and mathematical models with the skepticism that recent history warrants - explain how the world's economy can get out of the mess we're in, and stay out. In Roubini's shadow, economists and investors are increasingly realizing that they can no longer afford to consider crises the black swans of financial history.
A vital and timeless book, Crisis Economics proves calamities to be not only predictable but also preventable and, with the right medicine, curable.

Wednesday, December 22, 2010

Black Swan Author Nassim Taleb on Bloomberg Television

"Black Swan" author Nassim Taleb appeared on Bloomberg Television's "Surveillance Midday" with Tom Keene today. He said that he's worried about the crisis in the U.S. more than in Europe and that executive compensation on Wall Street is not fully addressed by regulators, causing a "moral hazard."

Tuesday, December 21, 2010

Monday, December 20, 2010

How Much Does Good Management Matter? Evidence From India

Speaker: Professor John Roberts
This event was recorded on 20 May 2010 in Wolfson Theatre, New Academic Building
As early as 2005 Nouriel Roubini speculated that house prices would soon sink the economy, and in 2006 warned the IMF that the The quality of management varies significantly across countries, with less developed countries featuring a large share of poorly managed firms. In a field experiment we explore why so many Indian firms are poorly managed, whether this can be improved and what the effect of better management is on performance. We find strong positive results.

Sunday, December 19, 2010

Financial Crises And Crisis Economics: Past, Present And Future

Speaker: Professor Nouriel Roubini
This event was recorded on 18 May 2010 in Sheikh Zayed Theatre, New Academic Building
As early as 2005 Roubini speculated that house prices would soon sink the economy, and in 2006 warned the IMF that the United States was likely to face a catastrophic housing bust resulting in deep recession. Back then he was nicknamed 'Dr Doom' by the New York Times. In hindsight, economists have called him a prophet.

Saturday, December 18, 2010

Nassim Taleb : Bed of Aphorisms

Dec. 17 2010 | Nassim Taleb, author of "The Black Swan," discusses his new book, "Fooled by Randomness" with CNBC.

Thursday, December 16, 2010

Nouriel Roubini The worse of the crisis is over : Bloomberg 16 Dec 2010

Nouriel Roubini on Bloomberg Television

Nouriel Roubini appeared on Bloomberg Television's "Midday Surveillance" with Tom Keene today to talk about his economic outlook.

Wednesday, December 15, 2010

Charlie Rose - Nouriel Roubini

Nouriel Roubini discuses what Americans can expect to see over the next few months due to the financial crisis.

Nassim Taleb on Ben Bernanke, the Fed and QE2

Nassim Taleb tears into Ben Bernanke's monetary policy, specifically the Federal Reserve's recently announced round of Quantitative Easing known as QE2. Among other charges, Taleb claims Bernanke has a highly flawed understanding of risk.

Tuesday, December 14, 2010

Monday, December 13, 2010

Roubini on European debt crisis

The Big Interview: Nouriel Roubini, professor of economics at Stern School, speaks on a wide range of issues including the European crisis, the role of the IMF, capital flows, QE2 in US and future of gold.

Sunday, December 12, 2010

10 Questions for Nassim Taleb

The Black Swan author's latest, The Bed of Procrustes, is a book of aphorisms. Nassim Taleb will now take your questions.

Thursday, December 9, 2010

In the Eurozone The robust backstopping of the financial systems by the governments has made them near-insolvent

Nouriel Roubini :"...Well, my fear has been that unfortunately in the case of the eurozone and a number of insolvent or nearly insolvent countries in it, their problems may just not be of liquidity but also the amounts of debt in the private sector and the banks.

The robust backstopping of the financial systems by the governments has made them near-insolvent . So, provision of liquidity might not be sufficient. At some point down, there might be coercive restructuring of public debt of countries like Greece and Ireland.

And unfortunately, problems are now spreading to Portugal, possibly Spain and other parts of the eurozone. There is also problem of competitiveness. And now, restoring of not only large stocks of public debt but also private liabilities owned by organisations. ..." in

Roubini : China will have more challenges than India As far as sustaining growth is concerned

Nouriel Roubini :"As far as sustaining growth is concerned, China will have more challenges than India. Their economy is characterised by dependence on the US as the consumer of first and last resort, a mode of growth that has been challenged today" via

Roubini : Only solution for Greece is to leave the eurozone

Greek Reporter - 09.12.2010

Nouriel Roubini, professor of economics at the New York University and consultant at the US Congress estimated that the only solution for the restoration of the Greek economy is the devaluation of its currency, which means leaving the euro zone and going back to the drachma. However, he explained that this is not feasible since it presupposes withdrawal from the EU, and pointed out that in such an eventuality, the devaluation of the currency would rise to 50%..
The famous economist, considered that no matter how the budget harmonisation in Greece will be correctly made, the country will not solve the huge state debt problem.
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Tuesday, December 7, 2010

Nouriel Roubini : L Shape stagnation

Nouriel Roubini :"...Well, in the case of Eurozone, five economies, three are still contracting, Spain, Greece and Ireland, two of them Portugal and Italy, are barely growing. So, it is not even a question of double dip they never got out of the first dip.

It is more like the shape of an L of stagnation like in the case of Japan in the longer term unless they solve their own problems. So the risk of double dip and continuation of recession is highest in the periphery of the eurozone. .... "

Monday, December 6, 2010

Nouriel Roubini agrees with Jim Rogers on the Crisis

Nouriel Roubini, economist of Business, New York University

Nouriel Roubini (born 29 March 1959 ) is an Iranian_American professor of economics at New York University's Stern School of Business and chairman of Roubini Global Economics, an economic consultancy firm.

After receiving a BA in political economics at Bocconi University, Milan, Italy and a doctorate in international economics at Harvard University, Cambridge, Massachusetts, 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
He is currently a U.S. citizen and speaks English, Persian, Italian, and Hebrew. He lives in Manhattan, has never married.

Europe's Peripheral Problems

Nov. 29 2010 | 11:00 AM ET
"Some problems are just too big to solve with tons of money," Arnab Das, managing director of Market Research and Strategy at Roubini Global Economics told CNBC on the Irish debt crisis.

Sunday, December 5, 2010

Roubini : I prefer to be called Dr Realist

Nouriel Roubini :"....I don’t think I am Dr Doom. I prefer to be called Dr Realist . You should not be an optimist or pessimist but do a reasonable and realistic assessment of both upside and downside risks.
We are in a very complex global economy . There are some parts of the world that are doing very well including India and Asia. Advanced economies are currently weaker. So, we have to be sensible, objective and realistic about it....."

Nassim Taleb s Ten Principles (Sample)

Nassim Taleb's Discussing Some of His Ten Principles for a Black Swan Robust World

Saturday, December 4, 2010

Roubini : Yuan appreciation in China's interest

"Today China is overheating, inflation is rising, there is excessive monetary growth, excessive credit growth, beginning of asset bubbles,"
"One of the ways which China can control this risk is to allow a faster rate of appreciation of the currency," , said Professor Nouriel Roubini, who teaches at New York University known in financial circles as Dr. Doom for being amongst the few economic commentators who forecast the global crisis in 2006.

Friday, December 3, 2010

Nassim Taleb - Fooled by Randomness and Black Swans

Alec Hogg talks to Nassim Taleb prior to his last visit to South Africa

Nouriel Roubini : India must keep inflation under control

In an exclusive interview with NDTV, noted global economist Nouriel Roubini who had predicted commodity bubbles way before it happened, about the big challenges to India's economic growth. He said the management of inflation and capital inflows is important along with sound corporate governance.

Thursday, December 2, 2010

Nassim Taleb : Black Swan Wisdom

Dec. 2 2010 | Nassim Taleb, known worldwide for his book "The Black Swan," discusses his new book, "The Bed of Procrustes," and more with CNBC.

Nassim Taleb - What is a Black Swan ?

Nassim Taleb - What is a Black Swan ?
Complete video at:

Author Nassim Nicholas Taleb discusses the central theme of his bestselling book, "The Black Swan: The Impact of the Highly Improbable."


The Future Has Always Been Crazier Than We Thought with Nassim Nicholas Taleb.

Author Nassim Nicholas Taleb discusses his book, The Black Swan in relation to predicting the future, learning from the consequences of the unknown, and the power of randomness.

Nassim Nicholas Taleb is an essayist, belletrist, and researcher only interested in one single topic, chance (particularly extreme and rare events, the "Black Swans" i.e. outliers); but it falls at the intersection of philosophy/epistemology (skepticism; knowledge about the dynamics of history; inferential claims), philosophy/ethics (stoicism facing random events; theories of nonhedonic happiness), mathematical sciences (probability theory, statistical physics), social science/finance (opacity & incomplete information in economics), and cognitive science (the mental biases making us "fooled" by randomness). He mainly derives his intuitions from a 2-decade long and intense practice of derivatives trading ("nondull" activities with plenty of randomness).

Taleb is currently a researcher at London Business School. He the Dean’s Professor in the Sciences of Uncertainty University of Massachusetts at Amherst, Fellow in Mathematics in Finance, Adjunct Professor of Mathematics at the Courant Institute of Mathematical Sciences of New York University (since 1999), and research fellow, Wharton School Financial Institutions Center, and Chairman, Empirica LLC.

Taleb held senior trading positions with trading houses in New York and London and operated as a floor trader before founding Empirica LLC. His degrees include an MBA from the Wharton School and a Ph.D. from the University of Paris. He is the author of Dynamic Hedging, Fooled by Randomness, and The Black Swan.

Wednesday, December 1, 2010

Roubini : Spain is the big elephant in the room

Portugal will also likely to need a bailout , but Spain is the "big elephant in the room" in the euro debt crisis said Nouriel Roubini, the New York University professor and co-founder and chairman of Roubini Global Economics At a conference yesterday in Prague, "There is not enough official money to bail out Spain if trouble occurs," Mr. Roubini said, as reported by Bloomberg News.
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