Roubini : The Markets will Turn Skeptical On Euro Deal

"In the next few weeks there will be questions about the viability of what has been decided and increasingly the markets are going to become skeptical this is a solution to the euro zone," .
"That's not enough and makes those bonds very risky," he said. Roubini noted that a debt write-down of "50% has been imposed on Greek creditors, so why would you want to take an exposure on Italy and Spain?"
"The recession is already ongoing in the euro zone," "People are going to say it's good financial engineering, but unless you have economic growth there is going to be a train wreck." Roubini said in an interview in Paris via the Wall Street journal

Double-dip slump in major economies

"There's a significant probability there's going to be another recession in most advanced economies ," Nouriel Roubini told business leaders gathered here for the Commonwealth of Nations conference. He singled out the euro zone, the U.K. and the U.S. as prime targets for economic contraction. - in MarketWatch

Nouriel Roubini video Interview - The CHOGM show

The markets have gone up recently because there is a hope that the Europeans will come with a plan that is credible says Nouriel Roubini in this interview from Perth Australia speaking to CHOGM Forum any financial engineering in Europe is just not sustainable , the economic data coming from Europe are just horrible there is no growth to be expected Spain and Italy are close behind Greece Roubini explains even the data from the United States is mixed , GDP growth in the US might come out 2.5 percent the US economy is much weaker than people make it , he added ....there is some excesses in the housing market in Australia

Roubini: Hard landing coming in China

Nouriel Roubini : "If China has a hard landing, for a period of time that's going to hurt growth and reduce commodity prices until China recovers and until the rest of the world recovers," - in www.theaustralian.com.au

Roubini : 50% Chance of Recession in U.S., Eurozone, U.K.

Nouriel Roubini : There is a 50 percent chance of a recession in the U.S., the U.K. and eurozone economies in the next 12 months
Europe’s “financial engineering” is insufficient to end its sovereign-debt crisis,
Contagion from the debt crisis has spread to some French and Belgian banks,
Unfortunately, in my view there is a risk, at least a 50 percent probability, that in the U.S., in the eurozone, in the United Kingdom, and in most advanced economies, the future in the next 12 months might suggest a recession, a downturn, rather than reacceleration of growth, Roubini said in a speech in Jakarta today - in www.businessweek.com

Roubini : Soft Landing in China Is a Mission Impossible

China’s efforts to prop up economic growth won’t help it escape the hard landing that will probably arrive in 2013 or 2014,
The prospect of a soft landing in China is a “mission impossible,”
Over-investment “always” leads to a hard landing Nouriel Roubini said at a seminar in Helsinki today organized by Evli Bank Oyj - in Bloomberg

Nassim Taleb : The banks should be treated as Utilities

Nassim Taleb, author of The Black Swan was interviwed by Bloomberg TV about the #OccupyWallStreet movement and what is his take on the protests that are sweeping not only New York but the world , My fear is that protest will turn into a class struggle he said and that we should apply Hammurabi's Code to wall street and the banking industry this is the best risk management rule ever , it is a deterrent that the banks should be treated as Utilities , the banks are in the business of hiding risk and when things collapse you and I pay the bill he added and that bankers should not be compensated more than civil servants

We are also running out of policy bullets

Nouriel Roubini : our assessment is that there is more than a fifty percent probability of a double dip recession (in the US ) certain to become a severe recession if the Eurozone blows up , but we think that the tail risks are not going away because of thata there is an option value of waiting , firms doing less job hiring consumers more cautious investors more cautious we see a negative feedback between the real economy disappointing equity markets correction financial condition tightening and negative feedback to the real economy the data is mixed the eurozone is in trouble the consumers are just propped by transfers and taxes but that's going to go away , stocks prices are falling home prices are still falling credit spreads are widening so it is tight for the US consumer , we have this redistribution of income from labor to capital from households to corporates from wages to profits that redistribution of capital means less aggregate demand when there is excess of supply and finally we are running out of policy bullets there will be a fiscal drag monetary policy in QEs becoming increasingly impotent as the credit channels not working we cannot backstop anymore , the banks are now the protestors are saying enough enough of doing that and we need a weaker dollar to grow our exports if domestic demand is weak through deliveraging but the Europeans need a weak Euro the Japanese need a weak Yen..- in Reuters 18 Oct 2011

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Roubini : Much Weaker Euro, Rate Cuts Needed To Solve Euro Crisis

To solve the euro-zone debt crisis, the euro needs to trade below parity against the dollar, the European Central Bank needs to cut interest rates and member states need to forge a fiscal unity, U.S. economist Nouriel Roubini said at a conference in London. - in the wall street journal

RGE not for Sale

"Recent press reports have suggested that RGE is experiencing difficult financial conditions and is being sold. These reports are wrong. RGE is strong, stable and independent," "well capitalized" and remained "of high value to its clients." RGE said in a note sent to clients via CNBC

Nouriel Roubini on the The Common Good Conference

Nouriel Roubini on the US & Global Economy : The Common Good hosts Professor/ Economist Nouriel Roubini with co-host Charles Meyers and Paul Beirne . The Com­mon Good hosted “Dr. Doom” Pro­fes­sor Nouriel Roubini on Wednes­day, Octo­ber 12th as he dis­cusses the com­ing chal­lenges of the US & Global Econ­omy as part of our Econ­omy and Busi­ness Series.

Roubini concerned about the contagion spreading to the rest of the Eurozone

Oct. 13 - $1.2 trillion plan to restart the U.S. economic engine With key deadlines approaching, Gina Sanchez of RGE sits down with Nouriel Roubini, Mark Zandi and Lincoln Ellis to discuss the future of the Eurozone.Roubini is concerned about the contagion spreading to the rest of the Eurozone

Roubini Global Economics is for Sale ?

CNBC announced today that RGE Roubini Global Economics is for Sale , " Roubini Global Economics The economics research firm that was founded by Nouriel Roubini is for sale. it has grown quickly since the founding by Mr. Roubini who is its chairman and known for predicting much of the financial gloom that befell us in the '07 and '08 period. the firm has 85 employees, and it is still losing money according to people who have seen the offering book for the sale. the firm is project to have revenues of $14 billion and lose about $2 million. it projects about 8% revenue growth next year " said CNBC

Roubini : EU-Wide TARP Program is the Answer

Professor Nouriel Roubini was interviewed this morning by CNBC Asia about his solutions for the global financial crisis and especially regarding the debt crisis in Europe , , The EU should do a European-wide TARP program right now to resolve the debt crisis, says Nouriel Roubini, chairman of Roubini Global Economics. He explains why.

Roubini : Double dip recession will happen

The world's advanced economies are headed for a second recession, regardless of whether there is further chaos in Europe,
The question is not whether or if there is going to be a double dip, but whether it's going to be mild or severe with another financial crisis,". "The answer on that depends on the euro zone."

"You need an EFSF that is four times as large as the 440 (billion euros) to make sure that a bad equilibrium, and a self-fulfilling run on Italy and Spain doesn't occur," "There's no plan for that, because politically even the first EFSF has not yet been approved, let alone to triple it or quadruple it." Famed economist Nouriel Roubini chairman of RGB Roubini Global Economics,told CNBC on Tuesday on the sidelines of the World Knowledge Forum in Seoul - in CNBC

the Recapitalization of eurozone banks, would be needed to limit collateral damage and contagion

Nouriel Roubini : Leaving the common currency would, of course, threaten collateral damage for the exiting country and raise the risk of contagion for other weak eurozone members. The balance-sheet effects on euro debts caused by the depreciation of the new national currency would thus have to be handled through an orderly and negotiated conversion of euro liabilities into the new national currencies. Appropriate use of official resources, including for recapitalization of eurozone banks, would be needed to limit collateral damage and contagion.

Roubini : Europe Needs 2 Trillion Euro Bazooka

Nouriel Roubini : I am very worried about the situation in the periphery of the Euro Zone , they have a recession coming , there is a fiscal crisis a banking crisis a liquidity crisis a sovereign debt crisis and also a competitiveness crisis and now the contagion is going to spread from Greece to Ireland Portugal to Italy to Spain to their banks their governments to the french banks Belgium banks to the core of the Euro zone and it is a very unstable situation ...... I’m very concerned of things getting out of control,” “You need a huge bazooka of at least 2 trillion euros, but you can’t wait three months. You have to do it in the next few weeks.” Roubini said in an interview at Bloomberg’s Dubai office yesterday.

Nouriel Roubini : Trichet made many policy mistakes

Nouriel Roubini interviewed by Reuters Oct. 3 - about Jean-Claude Trichet As he comes towards the end of his eight years at the head of the ECB, global economist Dr Doom Nouriel Roubini rates his tenure.: I would give him 7 , he did better than average but there were many policy mistakes , one was to increase policy rates too soon in 2008 when the economy was going through a recession and the financial crisis was becoming worse and the second mistake was to make the same mistake this year by again raising policy rates and leading to even more financial crisis and insolvency and currency crisis in the periphery of the Euro Zone '

Roubini : US and UK already in Recession

“The way I see the global economy, I think we’re entering into a recession again in most advanced economies,” . “I think we’re already into one in the US based on the hard and soft data - same with most of the eurozone, same with the UK.” Nouriel Roubini said in a panel discussion at the Bloomberg Dealmakers Summit in New York , “At this point, the issue is not whether there is going to be a recession or a double-dip but whether it’s going to be relatively mild or whether it’s going to be a severe recession and a global financial crisis,” Roubini added “The answer to that question depends on what’s going to happen in the eurozone and whether they can get their act together.” - in http://www.telegraph.co.uk