The Financial Times had a three part (15 minutes) video interview with NYU Professor Nouriel Roubini last week. You can find this interview on the FT Video site or via YouTube below.
Roubini discusses his outlook for the US economy, housing and mortgages; the prospects for policy action.
Nouriel is a cheerful as ever. But before you dismiss him, note that he has been very right on Housing, Credit and the Economy:
Part 1
Part 2
Part 3
quote from #3
“the markets are pricing a short and shallow recession —”
well may be. if capital is not supply restricted then the classic analysis would be that equity values are being propped up by excess cash. Taken to extremes we end up with “names”, companies that have a vast store of cash but no employees. have at it.
how much is your cash worth?
On a related note….as the retail numbers are coming up and retailers love to ‘rationalize’ sales disappointments, it’s been very unseasonably cool in the Midwest (well at least in Chicago, 41 degrees last night/$$$ fo rUNG).
Perhaps retailers (esp. KSS/BKE) will also add cool weather to their laundry list of excuses and weather will another straw breaking the consumption back?
I love Nouriel, he’s just a little ray of sunshine! He reminds me of the Greek Cassandra, who could predict the future, but cursed so that no one believed her.
Right on the economy!!! Roubini declared that the US was in a recession 18 months ago. He’s about as right as a broken clock.
Jesus, this is depressing. (Especially because he’s right)
Dr. Roubini is dispassionate, clear thinking and apparently correct well ahead of the pack. He seems especially good at predicting systemic and cascading effects.
He does under-state the effects of expensive/sporadic energy and food in his predictions after the middle-case’s U-shaped recession is over. I hope it turns out only to be as bad as he predicts.