Nouriel Roubini
Nouriel Roubini: Economist and Predictive Genius
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Full Name and Common Aliases
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Nouriel Roubini's full name is Nouriel Rafaeli Roubini. He is also known by his nickname "Dr. Doom," which was coined due to his accurate predictions of global economic downturns.
Birth and Death Dates
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Nouriel Roubini was born on March 29, 1960, in Istanbul, Turkey. As of this writing, he is still alive.
Nationality and Profession(s)
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Roubini holds dual citizenship of Turkey and Italy. He is a renowned economist, professor, and author who has spent his career warning about the dangers of economic instability and predicting major global events.
Early Life and Background
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Nouriel Roubini was born to an Italian family in Istanbul, Turkey. His parents were both from Italy, but they had moved to Turkey before Nouriel's birth. He grew up speaking Turkish, Italian, and English fluently. Roubini developed a strong interest in economics at an early age and went on to study the subject at the London School of Economics.
Major Accomplishments
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Roubini is best known for predicting the 2008 global financial crisis. In his book "Bailouts or Bail-ins?" (2007), he warned about the dangers of subprime mortgage lending and the potential for a major economic downturn. His predictions were largely ignored by mainstream economists and policymakers at the time, but they proved to be eerily accurate when the crisis hit in 2008.
Notable Works or Actions
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Some notable works and actions by Roubini include:
Author: Roubini has written several books on economics, including "Bailouts or Bail-ins?" (2007) and "Crisis Economics: A Crash Course in the Future of Finance" (2010).
Professor: Roubini is a professor of economics at New York University's Stern School of Business.
* Economic commentator: He has written for numerous publications, including The Financial Times, The Wall Street Journal, and Forbes.
Impact and Legacy
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Roubini's predictions have had a significant impact on global economic policy. His warnings about the 2008 crisis led to increased regulation and oversight of financial institutions in many countries. Roubini has also been recognized for his expertise as an advisor to governments and international organizations, including the World Bank and the International Monetary Fund.
Why They Are Widely Quoted or Remembered
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Nouriel Roubini is widely quoted and remembered due to his uncanny ability to predict major global economic events. His accuracy in forecasting crises has earned him a reputation as one of the world's leading economists.
Quotes by Nouriel Roubini
In an extreme credit crunch, leveraged purchases of gold cause forced sales, because any price correction triggers margin calls. As a result, gold can be very volatile – upward and downward – at the peak of a crisis.
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.
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.
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.
I think it’s true that the 1 Percent or the elite are living in a world of, maybe, excessive privilege, and they don’t fully realize how much pain and suffering, how much anxiety exists out there.
I think globalization actually maintains and fosters various elements of national and cultural identities. I don’t think everything is being homogenized. If anything, your food, your culture, and your ethnicity might become part of the globalized world, and thus absorbed by other countries.
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.
Technology is spurring innovation, and the so-called “demographic dividend” has brought change.