Nouriel Roubini
Born
in Istanbul, Turkey
March 29, 1959
Website
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Genre
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“The party will go on until reckless speculation becomes unsustainable, ending with the inevitable collapse in bullish sentiment, a phenomenon called a Minsky moment, named for economist Hyman Minsky. It’s what happens when market watchers suddenly begin to wake up and worry about irrational exuberance. Once their sentiment changes, a crash is inevitable as an asset and credit bubble and boom goes into a bust.”
― Megathreats
― Megathreats
“What about our looming financial crises? Innovation can solve many problems, but it won’t erase unsustainable debt. We have borrowed our way to prosperity with no exit strategy. Loans secured with home equity and other assets lifted consumption in the 2000s as income growth slowed. Dimming prospects of repayment did not deter lenders who preyed on increasingly desperate consumers and homeowners. Behavior that fueled the 2008 financial bubble and bust will persist, but on steroids.”
― Megathreats
― Megathreats
“replacing brainpower is different from replacing muscle power. Good jobs that emerged from the decline of manufacturing and rise of services required brains, not brawn. “Knowledge worker” was the category that everyone wanted to join. But now we have lost our monopoly on knowledge. Artificial intelligence can handle desirable jobs better and faster than human brains can handle them. There will be jobs for people, but who will want them?”
― Megathreats
― Megathreats
Topics Mentioning This Author
| topics | posts | views | last activity | |
|---|---|---|---|---|
| The History Book ...: GLOBAL FINANCE | 234 | 641 | Nov 28, 2020 07:44PM |
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