Friday, May 1, 2015

Roubini: Baltimore Riots are a symptom of income inequality

The riots in Baltimore this week may have been triggered by the death of Freddie Gray, but their roots are found in the widening gap between America's rich and poor.

That's the message from Nouriel Roubini, the economist who in 2005 correctly predicted the housing crisis and ensuing financial crash in 2008.

"We've seen race riots in parts of the United States because lots of people are poor and angry and resentful," Roubini told CNNMoney's Cristina Alesci at the Milken Global Conference in Los Angeles

 Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics
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