Roubini ‏: The Whole Eurozone in Double-dip Recession now

Nouriel Roubini ‏: Whole EZ in double-dip recession now @economonitor: German and French Growth Engines Slow Down in the Eurozone http://bit.ly/TS6GMe - in twitter

Roubini : Eurozone Crisis Spreading From Periphery to Core

Nouriel Roubini : “The economic contraction used to be in the periphery of the euro zone,” “It is spreading now to the core of the euro zone. For example, it is quite clear that France is entering a recession.” Roubini said in a speech in Mainz, Germany, today. - in bloomberg

Roubini ‏: Turkey is a pivot state with increasing economic and geopolitical importance

Nouriel Roubini ‏: I am off today from Germany to Turkey to give a keynote speech. Turkey is a pivot state with increasing economic and geopolitical importance - in twitter

Roubini : Even Germany is Slowing Down Sharply

Nouriel Roubini : In Germany today for policy meets & a keynote speech. Even Germany is slowing sharply as its 2 key export markets - China & EZ - are weaker- in twitter

Roubini : Wall Street bit the hand that kept it alive

Nouriel Roubini : After a massive bailout Wall Street bit the hand that kept it alive aggressively supporting Romney & attacking Obama, The strategy backfired - in twitter

Roubini : 3 upcoming fiscal cliffs in 2013

Nouriel Roubini 3 upcoming fiscal cliffs: 2013 cliff; debt ceiling; plan for medium term fiscal consolidation. Dems-Reps still far apart on all these issues - in twitter

Roubini ‏: Jack Lew, most likely to be the next US Treasury Secretary

Nouriel Roubini ‏: Jack Lew, most likely to be the next US Treasury Secretary. Lael Brainard, currently U/S for Int Affairs, likely to become Deputy Treas Sec - in twitter

Roubini ‏: Putin has an uncanny resemblance to Daniel Craig/James Bond

Nouriel Roubini ‏: Vladimir Putin has an uncanny resemblance to Daniel Craig/James Bond. Maybe Putin moonlights as Bond http://yfrog.com/obsvtzkj

Roubini : Karl Rove should be fired on the spot

Nouriel Roubini ‏ "If Karl Rove was a CEO he should be fired on the spot and be subject to clawbacks...but the jerk will hang on and continue to spew crap.."- in twitter

Roubini : The risk of Greece exiting the euro area in the next six to nine months is still very high

Nouriel Roubini : The risk remains even if the attitude of Germany and the troika has changed and “they now prefer to give Greece more time,” he said, speaking today in Milan. Roubini said there is a "high probability’’ that the Greek government will collapse within the next six months. A disorderly exit of Greece may be disruptive for the euro area until Spain and Italy are “out of the woods”, - in Businesspost.ie

Roubini : Obama Election a Major defeat of Tea-Party Freaks

Nouriel Roubini : Obama election is major defeat of Tea-Party freaks, religious fanatics, anti-immigrant nativists, creationist lunatics, supply-side voodoos - in twitter

Roubini Keynote Speaker @ HSM conferences in Milan Italy

Nouriel Roubini : I will give two keynote speeches today and tomorrow in Milan at HSM conferences He said via twitter

Nouriel Roubini: Five Reasons for Economic Optimism… And five reasons why we should still be worried Beginning with the most positive aspects of the global market, world-renowned economist Nouriel Roubini lists the five reasons for economic optimism, as well as the five reasons why things could get worse. Discover the best and the worst of the global situation and the actions necessary to push the scale to strengthen the positives and resolve the negatives.

Roubini: The Global Economy faces an uncertain Future in 2013

The American Economist Nouriel Roubini predicted an uncertain scenario for the world economy in 2013, a year in which Europe could deepen its crisis, while China slow their growth and United States would fall into a situation of stagnation. The Economist was in the Argentina and during his talk highlighted as a favorable factor in the situation of globalization that promotes sharing and investments. The American Economist Nouriel Roubini predicted an uncertain scenario for the world economy in 2013, a year in which Europe could deepen its crisis, while China slow their growth and United States would fall into a situation of stagnation. Nobel Prize in economics 2009 and famous for having predicted the crisis of 2007, Roubini spoke yesterday at the World Business Forum which took place in Buenos Aires the week that passed. The American economist born in Turkey also drew attention to the risk posed the possibility of a confrontation between Israel and Iran for the world economy and that match the rest of its forecasts, it set a 'perfect storm' next year. - in corrienteshoy read more >>>> http://www.corrienteshoy.com/vernota.asp?id_noticia=119099

Roubini : In the United States, The Growth is Anemic

Nouriel Roubini : In the United States, the latest economic data – including a weak labor market – confirm that growth is anemic, with output in the second half of 2012 unlikely to be significantly stronger than the 1.6% annual gain recorded in January-June. And, given America’s political polarization and policy gridlock, we can expect more fights on the budget and the debt ceiling, another rating downgrade, and no agreement on a path toward medium-term fiscal consolidation and sustainability – regardless of whether President Barack Obama is reelected in November. On the contrary, we should expect agreement only on the path of least political resistance: avoidance of tough fiscal choices until the bond vigilantes eventually wake up, spike long rates, and force fiscal adjustment on the political system. - in project-syndicate

Roubini ‏: The Too Big to Fail Even-Bigger-To-Fail now

Nouriel Roubini ‏: " Indeed Even-Bigger-To-Fail now than before @MarkThoma: 'Too Big to Fail' Remains Very Real - Simon Johnson http://economix.blogs.nytimes.com/2012/11/01/too-big-to-fail-remains-very-real/ … "

Roubini : Climate Change to blame for floods storms droughts and fires

Nouriel Roubini :" Extreme weather events - floods/storms on one side, droughts/fires on the other - are more frequent & are related to global climate change " - in twitter

We Are Getting Closer to a Stall Speed

Nouriel Roubini : “Given how slow we are growing, even a fiscal bump, let alone a fiscal cliff, pushes us close to stall speed.” - in Bloomberg

Roubini Keynote Speaker at HSM Conference in Buenos Aires

Nouriel Roubini : " I am in Buenos Aires for business and policy meetings and a keynote speech on the global outlook & Latin America at an HSM Conference "

Roubini : QE3 Not nearly as Effective as QE1 & QE2

Nouriel Roubini | Transmission trouble for QE3

QE3 reduces the tail risk of contraction but is unlikely to lead to a sustained recovery in the US
By Nouriel Roubini :
The US Federal Reserve’s decision to undertake a third round of quantitative easing, or QE3, has raised three important questions. Will QE3 jump-start the US’s anaemic economic growth? Will it lead to a persistent increase in risky assets, especially in the US and other global equity markets? Finally, will its effects on gross domestic product (GDP) growth and equity markets be similar or different? Many now argue that QE3’s effect on risky assets should be as powerful, if not more so, than that of QE1, QE2, and “Operation Twist”, the Fed’s earlier bond-purchase programme. After all, while the previous rounds of US monetary easing have been associated with a persistent increase in equity prices, the size and duration of QE3 are more substantial. But, despite the Fed’s impressive commitment to aggressive monetary easing, its effects on the real economy and on US equities could well be smaller and more fleeting than those of previous QE rounds. Consider, first, that the previous QE rounds came at times of much lower equity valuations and earnings. In March 2009, the S&P 500 index was down to 660, earnings per share (EPS) of US companies and banks had sunk to a financial-crisis low, and price/earnings ratios were in the single digits. Today, the S&P 500 is more than 100% higher (hovering near 1,430), the average EPS is close to $100, and P/E ratios are above 14. Even during QE2, in the summer of 2010, the S&P 500, P/E ratios, and EPS were much lower than they are today. If, as is likely, economic growth in the US remains anaemic in spite of QE3, top-line revenues and bottom-line earnings will turn south, with negative effects on equity valuations. Moreover, fiscal support is absent this time: QE1 and QE2 helped to prevent a deeper recession and avoid a double dip, respectively, because each was associated with a significant fiscal stimulus. - in project syndicate source : >>>>

Roubini : US Airlines should declare Bankruptcy & shut down

Nouriel Roubini : " US airlines should declare bankruptcy & shut down: they just canceled my Shuttle from DC to NY. Their planes are turkeys that can't fly "
"It would be merging 2 turkeys that can't fly @Shteyngart: Can you imagine what the proposed merger of US Air and American would look like? "
"US airlines are the most pathetic anti-deluvian pieces of junks ever flying. & they use octogenarians that should have retired 20 years ago " said Roubini on twitter today

[Video] Roubini : Obama will likely win the election

Interview Nouriel Roubini - : It looks like Obama is more likely to win in spite of the fact that the economy is weak , Roubini also said that he does not expect the war in the middle east to start before the elections , and in case of an attack against Iran expect oil prices to hit $140 may be even higher with all the consequences on the global economy ....

The Dark Matter of Financial Globalization by Nouriel Roubini

The recent turmoil in global financial markets – and the liquidity and credit crunch that followed – raises two questions: how did defaulting sub-prime mortgages in the American states of California, Nevada, Arizona, and Florida lead to a worldwide crisis? And why did systemic risk increase rather than decrease in recent years? CommentsBlame should go to the phenomenon of “securitization.” In the past, banks kept loans and mortgages on their books, retaining the credit risk. For example, during the housing bust in the United States in the late 1980’s, many banks that were mortgage lenders (the Savings ampamp; Loans Associations) went belly up, leading to a banking crisis, a credit crunch, and a recession in 1990-1991. CommentsThis systemic risk – a financial shock leading to severe economic contagion – was supposed to be reduced by securitization. Financial globalization meant that banks no longer held assets like mortgages on their books, but packaged them in asset-backed securities that were sold to investors in capital markets worldwide, thereby distributing risk more widely. via The Dark Matter of Financial Globalization by Nouriel Roubini – Project Syndicate.

Roubini Exclusive Interview ~ El ConfidencialTv

Video Description : Nouriel Roubini (Istanbul, 1959) talks like a priest, and at the bottom is. Although his flock are secular markets. Cross your hands and not move one iota from the edge of the table, indicating some confidence in their gestural communication. Wear something black tie worn by use and looks like a preacher. No one would say that this is an economic guru. It looks ordinary guy. He's used to indoctrinate public speaking and very difficult, but quietly. Is monotone and smooth, even firing at all: Merkel, central banks, IMF ... It comes from halfway around the world and tell the truth of the boatman. His truths. Some consider the last ominous, but so far the weather has almost always proved right. Yesterday lectured at the Rafael del Pino.

France Needs to Implement Changes

Nouriel Roubini : “So far, [as] France has been part of the core eurozone, the spreads have been low. But they’ve not been low because the fundamentals are good. “The economy’s been in a recession, the government doesn’t have a programme for really reducing the budget deficit over time, structural reforms need to be done to restore competiveness lost as much as the periphery [of Europe].”

Roubini on the Economic Outlook of Germany

Nouriel Roubini : “There was a divergence between economic growth of the core and the peripheral of the euro zone. Germany used to do better, but the latest data suggests a slowdown in German economic growth. It is still positive, but there are two shocks. There are two main markets for exports, China and Asia, are slowing down. Secondly, the recession of the periphery of the euro zone is taking a toll because after all, most of the exports of Germany go to the rest of the euro zone. There is a significant slowdown of growth, even in Germany.” - in Bloomberg

Roubini on what would be the catalyst to break up the Banks

Nouriel Roubini : “I would have thought after the worst global financial crisis the decision would have been made. Maybe we need another big financial crisis. For the time being, the politics will not lead us there.” - in Bloomberg

Can the Eurozone survive or will we see its final collapse?

Nouriel Roubini in Madrid today for policy meetings and a keynote speech on the Eurozone at the Fundación Rafael Del Pino , Roubini's keynote speech is entitled "Can the Eurozone survive or will we attend its final collapse?"
On October 22, 2012, Professor Nouriel Roubini pronounced in the Rafael del Pino Foundation conference entitled "Can the Eurozone survive or will attend their final collapse?". Nouriel Roubini is a professor at NYU's Stern School of Business and chairman of Roubini Global Economics. Professor Roubini is one of the premier authorities in the fields of macroeconomics and finance, as well as in the study of the challenges facing the capitalist system. Nouriel Roubini is known internationally for having anticipated in 2008, the subprime mortgage crisis. He has published over 70 theoretical and empirical and is coauthor of the book "Political Cycles: Theory and Evidence", "Bailouts or Bail-ins? Responding to Financial Crises in Emerging Markets "and" Crisis Economics: A Crash Course in the Future of Finance "(published in Spanish with the title" How to get out of this "by Destiny.)

ROUBINI: The U.S. Banking System Is Worse Off Than Ever

Nouriel Roubini : "The only solution to to break up too big to fail banks. There is no other alternative. We have to go back to Glass-Steagall. I would have thought after the worst global financial crisis in a generation, the decision would have been made. Maybe we need another big financial crisis. For the time being, the politics will not lead us there."

Nouriel : Banks are now even Bigger to Fail than before

“We had banks that were too big to fail before the crisis and now they’re even bigger to fail than before,” he explains. “The problem has not gone away and, in my view, as I wrote three years ago, the only way is to break up ‘too big to fail’ banks. There is no other alternative.” - in Bloomberg

Roubini Speech at Pilosio Award 2012

Speech by Nouriel Roubini at Pilosio Award 2012 The famous economist Nouriel Roubini speaks at the International Award Pilosio "Building Peace" 2012. Source: PilosioGroup

Roubini : QE3 will be associated with a large fiscal cliff

Nouriel Roubini : Moreover, fiscal support is absent this time: QE1 and QE2 helped to prevent a deeper recession and avoid a double dip, respectively, because each was associated with a significant fiscal stimulus. In contrast, QE3 will be associated with a fiscal contraction, possibly even a large fiscal cliff. - in project syndicate

Greek Euro Exit Seen Possible in First Half

Greek Euro Exit Seen Possible in First Half says RGE’s Greene Current austerity steps and likely retrenchment would create a “decade of depression,” so the country may decide to default on its debt and reissue the drachma, Greene said today at a conference in London. A Greek exit is “very likely” before the end of next year, she said. - via Bloomberg

Roubini: QE3 Will Not Boost Stock Prices or Stimulate The Economy

The Federal Reserve’s decision to roll out a third round of bond buying will do little to boost stock prices and stimulate the economy, says Professor Nouriel Roubini “In March 2009, the S&P 500 index was down to 660, earnings per share (EPS) of U.S. companies and banks had sunk to a financial-crisis low and price/earnings ratios were in the single digits,” he wrote in a Project Syndicate

Nouriel : Co-ops can be part of solution

Speaking at the International Summit of Cooperatives in Quebec City's convention centre last week, Roubini said he has known about co-operatives, "since I was a child." Growing up in Italy, co-operatives were involved in agriculture, financial services and retail, he said. Later, working on a kibbutz in Israel, he learned about "sharing with other people and common goals." - in the star phoenix

Roubini in Hong Kong for policy and business meetings

Nouriel Roubini : I am now in Hong Kong for policy and business meetings. Open debate here on whether Hong Kong should keep its peg to the US dollar - in twitter

QE3 reduces the tail risk of an outright economic contraction, but is unlikely to lead to a sustained recover

Nouriel Roubini : In short, QE3 reduces the tail risk of an outright economic contraction, but is unlikely to lead to a sustained recovery in an economy that is still enduring a painful deleveraging process. In the short run, QE3 will lead investors to take on risk, and will stimulate modest asset reflation. But the equity-price rise is likely to fizzle out over time if economic growth disappoints, as is likely, and drags down expectations about corporate revenues and profitability. - in Project Syndicate

Hard to be Easing by Nouriel Roubini

Hard to be Easing 
 NEW YORK – The United States Federal Reserve’s decision to undertake a third round of quantitative easing, or QE3, has raised three important questions. Will QE3 jump-start America’s anemic economic growth? Will it lead to a persistent increase in risky assets, especially in US and other global equity markets? Finally, will its effects on GDP growth and equity markets be similar or different?
Many now argue that QE3’s effect on risky assets should be as powerful, if not more so, than that of QE1, QE2, and “Operation Twist,” the Fed’s earlier bond-purchase program. After all, while the previous rounds of US monetary easing have been associated with a persistent increase in equity prices, the size and duration of QE3 are more substantial. But, despite the Fed’s impressive commitment to aggressive monetary easing, its effects on the real economy and on US equities could well be smaller and more fleeting than those of previous QE rounds.
Consider, first, that the previous QE rounds came at times of much lower equity valuations and earnings. In March 2009, the S&P 500 index was down to 660, earnings per share (EPS) of US companies and banks had sunk to a financial-crisis low, and price/earnings ratios were in the single digits. Today, the S&P 500 is more than 100% higher (hovering near 1,430), the average EPS is close to $100, and P/E ratios are above 14.
in Project syndicate read more >>>>>>

IMF now seriously concerned about global growth in 2013

Nouriel Roubini : I am leaving soon Seoul and heading to Tokyo for the IMF annual meetings. IMF now seriously concerned about global growth in 2013 Expand - in twitter

Greece : From a Recession into a Depression

Nouriel Roubini :" From a recession into a depression @MarkitEconomics: Greek unemployment rate up now up to 25.1% in July (Jun: 24.8%). " - in twitter

Senior Chinese officials Boycott IMF Meetings in Tokyo

Nouriel Roubini : Senior Chinese officials boycott IMF annual meetings in Tokyo: 2nd & 3rd largest world economies butting heads on a bunch of empty islands - in a twitter message

IMF Downgrades 2013 Growth Outlook

Nouriel Roubini :" IMF downgrades 2013 growth outlook, warns about risk of a global recession & worries about negative effects of excessive fiscal austerity ""IMF downgrades global outlook & doesn't rule out a global recession in 2012 " He added in a twitter message

I have known about co-operatives, since I was a child

" I have known about co-operatives, since I was a child." Growing up in Italy, co-operatives were involved in agriculture, financial services and retail, he said. Later, working on a kibbutz in Israel, he learned about "sharing with other people and common goals." " Roubini said Speaking at the International Summit of Co-operatives in Quebec City's convention centre Tuesday, - in Montreal gazette

Global Growth to come from Emerging Markets

Nouriel Roubini : "Global growth is going to come from emerging markets" Roubini said Speaking at the International Summit of Co-operatives in Quebec City's convention centre Tuesday, - in Montreal gazette

Stall Speed : The Growth next year could be as low as 0.5 percent

Nouriel Roubini : If the economy continues to grow at about “only 1.5 percent and you have a fiscal bump of 1 percent of gross domestic product, then growth next year could be as low as 0.5 percent,” “Given how slow we are growing, even a fiscal bump, let alone a fiscal cliff, pushes us close to stall speed.”Roubini said - in San Francisco Chronicle

Roubini in Quebec City for a Keynote Speech

Nouriel Roubini : This morning I give my keynote speech on the global economic outlook at the International Summit of Cooperatives in Quebec City - in twitter

Roubini on the Economic outlook of Germany

Nouriel Roubini : "There was a divergence between economic growth of the core and the peripheral of the euro zone. Germany used to do better, but the latest data suggests a slowdown in German economic growth. It is still positive, but there are two shocks. There are two main markets for exports, China and Asia, are slowing down. Secondly, the recession of the periphery of the euro zone is taking a toll because after all, most of the exports of Germany go to the rest of the euro zone. There is a significant slowdown of growth, even in Germany." - in Bloomberg

Roubini on what would be the catalyst to break up the banks

Nouriel Roubini : "I would have thought after the worst global financial crisis the decision would have been made. Maybe we need another big financial crisis. For the time being, the politics will not lead us there." - in Bloomberg

Roubini on the Banking System in the U.S.

Nouriel Roubini : "It is worse than before, because there has been massive consolidation of the banking system in the United States, JPMorgan took over Bear Stearns. Bank of America took over Countrywide and Merrill Lynch. We had banks that were too big to fail before the crisis and now they are even bigger to fail than before. There has been mass consolidation. The problem has not gone away. The only solution is to break up too big to fail banks. There is no other alternative. We have to go back to Glass-Steagall." - in Bloomberg

Roubini on whether Bernanke is an Asset or Liability for President Obama

Nouriel Roubini : "At the margin, he's an asset in a sense of what the Fed has been doing is reduce the tail risk of another double dip recession. QE, QE2, Operation Twist and now QE 3. It is not going to have a huge effect on the economy, but it already has an effect on stock prices. There has been a rally of 15% since December in part because of lower tail risk in the euro zone and in part because of QE3. The margin is beneficial, but only marginally." - in Bloomberg

Fiddling at the Fire by Nouriel Roubini

PARIS – Financial markets have rallied since July on the hope that the global economic and geopolitical outlook will not worsen, or, if it does, that central banks stand ready to backstop economies and markets with additional rounds of liquidity provision and quantitative easing. So, not only has good – or better-than-expected – economic news boosted the markets, but even bad news has been good news, because it increases the probability that central-banking firefighters like US Federal Reserve Chairman Ben Bernanke and European Central Bank President Mario Draghi will douse the markets with buckets of cash.
But markets that rise on both good and bad news are not stable markets. “Risk-off” episodes, in which investor sentiment sours, are likely to return if economic news worsens and confidence in policymakers’ effectiveness drops.

In the eurozone, euphoria followed the ECB’s decision to provide support with potentially unlimited purchases of distressed countries’ bonds. But the move is not a game changer; it only buys time for policymakers to implement the tough measures needed to resolve the crisis. And the policy challenges are daunting: the eurozone’s recession is deepening as front-loaded fiscal consolidation and severe credit rationing continues. And, as eurozone banks and public-debt markets become increasingly balkanized, establishing a banking union, a fiscal union, and an economic union while pursuing macroeconomic policies that restore growth, external balance, and competitiveness will be extremely difficult. - in Project syndicate

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