Quotes by Nouriel Roubini

Nouriel Roubini

A currency serves three functions: providing a means of payment, a unit of account and a store of value. Gold may be a store of value for wealth, but it is not a means of payment. You cannot pay for your groceries with it. Nor is it a unit of account. Prices of goods and services, and of financial assets, are not denominated in gold terms.

Gold

Mean

Three

All the risky things that were happening back in ’06 and ‘07 are back again to the same level, if not more. So we are in the beginning of a credit bubble, but just the beginning.

Back Again

Credit

Levels

But in the financial markets, without proper institutional rules, there’s the law of the jungle – because there’s greed! There’s nothing wrong with greed, per se. It’s not that people are more greedy now than they were 20 years ago. But greed has to be tempered, first, by fear of losses. So if you bail people out, there’s less fear. And second, b prudential regulation and supervision to avoid certain excesses.

Law

Loss

Years

Edward Conard provides a provocative interpretation of the causes of the global financial crisis and the policies needed to return to rapid growth. Whether you agree or not, this analysis is well worth reading.

Analysis

Growth

Reading

Gold has no increasing value. And if you’re really worried about, say, inflation rising, I would buy Spam. You know, you can eat Spam. You cannot eat gold.

Gold

Rising

Worried

Having spent 10 years studying emerging markets, I know that you have patterns repeated over and over again. A bubble is like a fire which needs oxygen to continue… when you see there is no oxygen, things change.

Fire

Oxygen

Years

I am just a normal human being – I am alive! Why is anyone surprised that I am human? Like many New Yorkers, I have a multifaceted life.

Alive

Humans

Normal

I am not going to say I told you so, but I did.

Funny Oxymoron

Oxymoron

Told You So

I am quite international. My background, born in Turkey. My family is a Jewish family from Iran, so I went from Turkey to Iran to Israel, and then grew up in Italy and ended up in U.S. for graduate school. So I tend to look at things from an international perspective, and I think that gives you a little bit of a broader view of what’s going on.

Israel

School

Thinking

I believe in market economics. But to paraphrase Churchill – who said this about democracy and political regimes – a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there’s a role for prudential – not excessive – regulation of the financial system.

Believe

People

Political

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Alive

Analysis

Anxiety

Back Again

Bankers

Banking

Believe

Bleak

Causes

Continuing

Country

Credit

Crisis

Demographics

Economic

Economics

Ethnicity

Financial

Fire

Funny Oxymoron

Gains

Gold

Growth

Gun

Humans

Innovation

Investing

Israel

Keys

Kindness

Law

Levels

Littles

Long

Loss

Mean

Might

Modern

Needs

Nerd

Normal

Oxygen

Oxymoron

Pain

Panic

People

Pessimist

Play

Political

Population

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Quotes by Nouriel Roubini

Nouriel Roubini

All the risky things that were happening back in ’06 and ‘07 are back again to the same level, if not more. So we are in the beginning of a credit bubble, but just the beginning.

Edward Conard provides a provocative interpretation of the causes of the global financial crisis and the policies needed to return to rapid growth. Whether you agree or not, this analysis is well worth reading.

Gold has no increasing value. And if you’re really worried about, say, inflation rising, I would buy Spam. You know, you can eat Spam. You cannot eat gold.

Having spent 10 years studying emerging markets, I know that you have patterns repeated over and over again. A bubble is like a fire which needs oxygen to continue… when you see there is no oxygen, things change.

I am just a normal human being – I am alive! Why is anyone surprised that I am human? Like many New Yorkers, I have a multifaceted life.

I am not going to say I told you so, but I did.

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