Roubini: Global Markets Could Soon Crash

Dan Weil
Newsmax
October 31, 2009

The global markets are at risk of crashing when the dollar rebounds, says economist Nouriel Roubini.

Roubini, a professor at NYU, is credited with long predicting the financial collapse of 2007 and 2008.

“In the short run what’s happening is there’s a wall of liquidity, not just in the U.S., but around the world, that is chasing assets,” he told CNBC.

“It’s equities, it’s commodities, it’s credit, it’s gold, it’s emerging market asset classes.”

And what does that amount to? “Now we are in the mother of all carry trades,” Roubini says.
Via Infowars
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Roubini to CNBC We Are in the Mother of All Carry Trades

Nouriel Roubini, Chairman, RGE Monitor, told CNBC Monday.

"There is a wall of liquidity…chasing assets," Roubini told "Squawk Box."

"Now we are in the mother of all carry trades,"
"The reality is that the dollar is the funding currency of the carry trades. Because of that the dollar weakness is going to continue for a while."
"The (stock) markets are pricing in a V-shaped recovery," Roubini said. "If the data surprise on the downside then there is going to be a significant correction."

The price of oil may also be among the assets that will fall.

"It seems to me that this rally in oil prices is way ahead of the economy," Roubini said.

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Dr. Roubini will be the keynote speaker Inside Commodities conferenc

Dr. Roubini will be the keynote speaker at IndexUniverse’s upcoming “Inside Commodities” conference on Nov. 4 at the New York Stock Exchange. We sat down with Dr. Roubini ahead of the conference to take his temperature on global markets, the role of oil (NYSEArca: USO) and gold (NYSEArca: GLD) and the impact of regulation.
Dr. Nouriel Roubini better knows as Doctor doom is a professor of economics and international business at the Stern School of Business at NYU and chairman of RGE Monitor,he is best known for his prescient predictions of the financial market collapse in 2005.

Nouriel Roubini Big Crash Coming

Nouriel Roubini gave today an Interview to by Dave Nadig of IndexUniverse
"There’s a huge bubble, because we have zero rates in the U.S., zero rates around the world and a huge carry trade. Everyone is borrowing at zero interest rates in dollars and getting a capital gain because the dollar is weakening, so they are borrowing at negative rates. And then they invest in risky assets: commodities, equities, credit. We’re creating a bigger bubble than before.
It’s going to go crashing down, in an ugly way. That’s the basics of the argument."
Roubini said :
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ROUBINI Indonesia another BRIC in the wall ?

After Brazil, Russia, India, and China here comes Indonesia , is it another brick in the wall ? Nouriel Roubini chairman of RGE Monitor and a professor at the Stern School of Business, New York University wrote an excellent article on the Korea Herald , here is a snapshot :
NEW YORK - Conventional wisdom rarely survives a good stress test, and few tests have been as stressful as that which the global economy has endured over the past 24 months. A healthy season of reappraisal has dawned, shining a new light on boom-time notions like the value of opaque markets, the untouchable status of the American consumer, or the wisdom of deregulation.

One piece of bubble wisdom that has escaped relatively unscathed, however, is the assumption that the "BRIC" countries - Brazil, Russia, India, and China - will increasingly call the economic tune in years to come. The BRIC notion, coined in a 2003 Goldman Sachs report, is not all bad: at 75 percent correct, it scores a good deal better than most economic prognostications of the day.

Yet the economic crisis that began in 2008 exposed one of the four as an impostor. Set the vital statistics of the BRIC economies side-by-side and it becomes painfully obvious that, in the words of the old Sesame Street game, "One of these things is not like the other."
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Roubini RGE Monitor raises its forecast for Latin America

RGE Monitor, Nouriel Roubini’s economic research and advisory service, raised its forecast for Latin American growth in 2010, saying global stimulus plans and interest-rate cuts are sparking a rebound. The region’s economy will grow 3.3 percent next year, led by Brazil, after shrinking 2.6 percent in 2009, RGE wrote in an Oct. 14 e-mailed note. (Source Bloomberg)
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US falls 3rd in bank ranking after UK Australia

Ranking Global Financial Leaders US losing the First place

In a ranking of financial development released by the World Economic Forum The United States went down from first to third place after the U.K. and Australia .
"There is a trade-off," said Nouriel Roubini CEO of RGE Global Monitor and co-author of the study. "Countries with more regulation in financial systems are more stable, but access to credit is much weaker."

Roubini noted that, while financial stability is important, overtime financial innovation is key to provide the necessary financing to the economy and ensure growth.

Bulls Ignore Warnings from Soros, Roubini and Other Skeptics

Soros Warns on Economy and Roubini Sees Stock Declines

Investor George Soros says the U.S. banking system is "basically bankrupt," in sharp contrast to Goldman's upgrade of the large banks.
Nouriel Roubini says "markets have gone up too much, too soon, too fast," and will retreat when economic news refutes the V-shaped consensus, Bloomberg reports.

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US house prices could still fall by 10%, says Roubini

US house prices could still fall by 10%, says pundit who foresaw credit crunch

Economist Nouriel Roubini also warns bank losses on home mortgages likely to be repeated with business premises
Nouriel Roubini, the high-profile US economist who foresaw the credit crunch, warned today that house prices could fall by another 10%, underlining the fragility of America's nascent economic recovery.

Property prices in the US have already dropped by almost a third from their peak, as the crisis spread from lower-paid sub-prime borrowers to engulf the entire housing market. But Roubini said there could still be worse to come – and added that banks' heavy losses on home mortgages are likely to be repeated in the sliding market for business premises.
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Roubini Doctor Realist on CNBC 05 October 2009

Roubini Says Stocks Have Risen Too Much, Too Soon

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Roubini still bearish on the US Economy

Oct. 4 (Bloomberg) -- Nouriel Roubini, the New York University professor who accurately predicted the financial crisis, talks with Bloomberg's Francine Lacqua about the prospects for stock and commodity markets. Roubini, speaking yesterday in Istanbul, also discusses the outlook for the U.S. and global economies, financial regulation, and Ireland's decision to endorse the European Unions new governing treaty. (Source: Bloomberg)

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Unemployment Will Rise Through 2010 says Roubini

"Not just [unemployment] going to go above 10 percent but the risk is it's going to stay above this level and return to more normal only more gradually and that's going to be one of the important sources of weakness for an economic recovery."




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Stocks and Commodities have Risen Too Much, Too Soon Too Fast says Roubini

Roubini Says Stocks Have Risen ‘Too Much, Too Soon, Too Fast’

By Shamim Adam and Francine Lacqua

Oct. 4 (Bloomberg) -- New York University Professor Nouriel Roubini, who accurately predicted the financial crisis, said stock

and commodity markets may drop in coming months as the gradual pace of the economic recovery disappoints investors.

“Markets have gone up too much, too soon, too fast,” Roubini said in an interview in Istanbul yesterday. “I see the risk of a correction, especially when the markets now realize that the recovery is not rapid and V-shaped, but more like U- shaped. That might be in the fourth quarter or the first quarter of next year.”

Stocks have surged around the world in the past six months as evidence mounts that the economy is emerging from its deepest recession since the 1930s. The Standard & Poor’s 500 Index has soared 51 percent from a 12-year low in March while Europe’s Dow Jones Stoxx 600 is up 48 percent. The euphoria contrasts with the cautious tone of Group of Seven policy makers, who said after their meeting in Istanbul yesterday that prospects for growth “remain fragile.”
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Is Roubini not a Doctor Doom anymore ?

Roubini View of Economy Softening Slightly

Nouriel Roubini has seen his star rise faster than almost anyone after predicting a deep recession during what was hailed by some as the “goldilocks” economy of 2006-2007. The so-called “Dr. Doom” is now a legitimate superstar and his words carry a lot of weight. We noted back in July (A Week of Superstar Bears Moving the Market) that Roubini’s remarks were regarded as a change in direction and the stock market rode a wave of positive sentiment much higher. It was surprising to us that such a event that has absolutely nothing to do with market fundamentals would be met with such ebullience from the market. Well, according to Bloomberg.com on Friday, Roubini has started to come around to the idea of recovery.

New York University Professor Nouriel Roubini said that action by governments and central banks has led to a “bottoming out” of the global recession and that there is “light at the end of the tunnel.”

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