Nouriel Roubini Quotes
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The global financial crisis - missed by most analysts - shows that most forecasters are poor at pricing in economic/financial risks, let alone geopolitical ones.
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Technology is spurring innovation, and the so-called "demographic dividend" has brought change.
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I think investing in a good education has been key for me, although the investment was more in time than money.
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If we didn't have greed, market economies wouldn't be as innovative as they are. But in my view, greed has to be contained by the fear of losses, so there has to be a system where, if you take too much risk, you go into bankruptcy. You don't systematically bail out people who take excessive risks.
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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.
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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.
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In the history of modern capitalism, crises are the norm, not the exception.
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The gains from technology must be channeled to a broader base of the population than has benefited so far.
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Once you run current-account deficits, you depend on the kindness of strangers. This might be the beginning of the end of the American empire.
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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.