Roubini: The End of Trump's Honeymoon | NOURIEL ROUBINI BLOG

Friday, March 17, 2017

Roubini: The End of Trump's Honeymoon

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"Dr. Doom" Now, Nouriel Roubini warns of America's newly elected President hefty broadside and policies that threaten growth in the US and worldwide.

The market has received President Donald Trump promises of tax cuts, incentives and deregulation with open arms.

But now the reality catch up with the president and Nouriel Roubini, an American economist, flagging in a blog post for the honeymoon may be over. Nouriel Roubini is known for his pessimism and goes by the name "Dr. Doom" because he was already in 2006 warned of the housing bubble in the United States that triggered the financial crisis in 2008.

Now write the famous economist to expectations of fiscal stimulus has pushed up the stock price, but also long-term rates, which reduces investment desire and affects the interest rate sensitive sectors such as real estate. A stronger dollar also threatens to knock out hundreds of thousands of jobs in the US manufacturing industry.

But more is to be expected, says Dr. Doom. Previously, both Ronald Reagan and George W. Bush proved that Republican presidents can seldom resist the temptation to pour on the unfunded tax cuts. History repeats itself, the budget deficits drive up interest rates and the dollar in the long run will hurt the economy.

Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

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Nouriel Roubini, (born March 29, 1958, Istanbul, Turkey), Turkish-born American economist and educator who was best known for predicting the 2007–08 subprime mortgage crisis in the United States and the subsequent global financial crisis.

Born to Iranian Jewish parents, Roubini moved with his family to Iran and Israel before they settled in Italy in 1962. After a year at Hebrew University of Jerusalem, he studied economics at Bocconi University in Milan (B.A., 1982) and Harvard University (Ph.D., 1988), where he specialized in macroeconomics and international economics. He joined the economics faculty at Yale University in 1988 and taught there until 1995, when he moved to New York University. He also served as a visiting scholar to the International Monetary Fund (IMF), was a research associate with the National Bureau of Economic Research (NBER), held single-year terms on the White House Council of Economic Advisers (1998–99) and at the U.S. Department of the Treasury (1999–2000), and cofounded (2004) the consulting firm Roubini Global Economics. Roubini spent much of his early career studying countries that experienced extreme economic failures, such as Mexico (in 1994), Thailand and other countries associated with the 1997 Asian financial crisis, Russia (1998), and Argentina (2000). He determined that each shared one common element: a massive current account deficit.(www.britannica.com)

Nouriel Roubini is the Chairman and CEO of Roubini Macro Associates, LLC, his own global macroeconomic consultancy firm. He is also a professor of economics at New York University’s Stern School of Business. Dr. Roubini has extensive policy experience as well as broad academic credentials. From 1998 to 2000, he served as the senior economist for international affairs on the White House Council of Economic Advisors and then the senior advisor to the undersecretary for international affairs at the U.S. Treasury Department, helping to resolve the Asian and global financial crises, among other issues. The International Monetary Fund, the World Bank and numerous other prominent public and private institutions have drawn upon his consulting expertise.