Here’s a webcast you might want to watch about how to fix the world’s current financial crisis. It took place last Monday at Columbia University’s Earth Institute, featuring:
George Soros, global financier and philanthropist, founder and chairman of the Open Society Institute and the Soros foundations network, and chairman of Soros Fund Management LLC.
Nouriel Roubini, professo
With an opinion piece published in the Toronto Globe & Mail entitled "Yes, Chicken Little, the sky is really falling," Dr. Noriel Roubini has some advice for a global financial system in crisis, and warns of what might happen if the right solutions are not applied (hat tip: Patrick.net):The rich world's financial system is headed toward meltdown. Stock markets have been falling most days, mon
The UAE is following the advice of Professor Nouriel Roubini is guaranteeing all bank deposits. But more needs to be done if the world is to avoid an economic collapse. In this video he explains what needs to be done. However, the economic consequences of these actions are not being properly considered as everything has [...]
This Halloween, I will be going as Nouriel Roubini. Why? Because the man is the harbinger of doom! Ok, I'm not really going as him. BUT, if you wanted to, inca kola has made the process very easy for you. Just enlarge, print it off, and go!(click to enlarge)
Nouriel Roubini this weekend talked about the next step of the crisis:"The next stage will be a run on thousands of highly leveraged hedge funds. After a brief lock-up period, investors in such funds can redeem their investments on a quarterly basis; thus a bank-like run on hedge funds is highly possible. Hundreds of smaller, younger funds that have taken excessive risks with high leverage and are
Roubini has been right from the beginning, that most of these commercial/investment banks have become insolvent, in the wake of Lehman Bros collapse.
Key talking points:
1) Real market value for the distressed credit instruments are likely to hold only 5 cents on the dollar.
2) Excessive leverage applied, hence the now crisis.
I met Professor Nouriel Roubini in Dubai when he addressed the poorly attended DIFC week. His gloomy logic seems a good deal more probable than the optimistic noises from the pundits of Wall Street. This is like a cascade of dropping shoes as the economy gets much worse before recovering. A long period of low [...]
Earlier this morning, CNBC’s Carl Quintanilla and Becky Quick talked to Nouriel Roubini, a former Treasury Department director under the Clinton administration and head of Roubini Global Economics in New York. His economic outlook: bleak.
According to Roubini, while a number of economists are calling for a mild, short recession in the United States, if [...]
Part 1The Road To Financial Disaster, Assessing The DamageCanadian TV - The Agenda w/Steven PankinInterview w/Nouriel RoubiniPart 2Part 3 New York City Housing Bubble - The BIG Picture
Nouriel Roubini Professor of Economics at New York University's Stern School of Business, breaks it up for us as to how ugly it is out there.Initial claims for unemployment benefits now at their recession level signaling the beginning of a serious slack in the labor market.Durable goods order falling – excluding transportation – for 4 months in a row; and non-defense capital goods orders and shipment falling, signaling that non-residential spending will show negative growth in Q4.Consumer confidence still plunging close to recession levels. Polls showing that a majority of Americans expect a recession in the next 12 months.Oil prices in the $90 to 100 range putting a dent to consumer pockets.Retail sales falling in real terms during the holiday seasons. With consumption spending being
Here’s another new round of fairly calamitous forecasts from three of the most accurate economic prognosticators of our recent times.Keep in mind that the respective outlook of all three forecasters has not changed measurably in the last year or so and, in fact, it seems quite obvious now that they were among the very few who clearly envisaged the full breadth and depth of the housing decline and the spillover effects that it’s reversal would have on the economy as a whole.Peter “Dr. Doom” Schiff, President of Euro Pacific Capital joins CNN and CNBC to discuss the mortgage-housing crisis and its effects on the wider economy. Schiff points out that many of the subprime and toxic exotic loan borrowers were not victims but, in fact, speculators.As lending standards tighten, returning to normal, home prices will correct and home equity will “vanish” leading Schiff to predict that he is “100% certain that we are headed for a severe and prolonged recession” while also sugges
Things are really heating up for the credit-mortgage crunch.We now have the news of a significant new wave of layoffs, closings and distress with Countrywide Financial (NYSE:CFC) cutting considerable staff, Capitol One’s (NYSE:COF) residential mortgage subsidiary GreepPoint Mortgage closing its doors, and GMAC’s residential mortgage unit ResCap Holdings suffering with its loss of non-conforming loan production.Watch Countrywide Cut on BNN!Watch GreenPoint Flop on BNN!Watch GMAC get Squeezed on BNN!To add a further complexity, Congress is now stepping up its actions, announcing a previously unscheduled meeting today between current presidential candidate and Senate Banking Committee Chairman Senator Dodd (D-CT) and Ben Bernanke as well as a seeing a significant new round of regulatory rumblings from House Financial Services Committee Chairman Representative Barney Frank (D-MA).Watch Dodd Preach on BNN!Watch Frank Regulate on BNN!Finally, as Nouriel Roubini sees it, the Feds latest s
It's always worth checking out, especially today. First, Nouriel been at the forefront of warning of problems in the economy. Now that Alan Greenspan has joined the camp of warning of a possible recession at the end of the year, Roubini's theories are being validated as we trudge through 2007. Nouriel discusses the views of Morgan Stanley economist (heavy weight/soft landing proponent/bull) Dick Berner. Dick is a great guy who I had the privilege of interviewing a number of times during my years at Bloomberg Radio and Television. If Dick Berner is getting concerned about credit, you should be too: http://www.rgemonitor.com/content/view/180186/85/
