Nouriel Roubini Quotes

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Nouriel Roubini

Profession : Economist

Birth : March 29, 1958

I'm a rock star among geeks, wonks, and nerds.

Nouriel Roubini

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.

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.

Nouriel Roubini

The global financial crisis - missed by most analysts - shows that most forecasters are poor at pricing in economic/financial risks, let alone geopolitical ones.

Nouriel Roubini

I've nothing against Goldman Sachs. But Goldman Sachs isn't an investment bank. Goldman Sachs is a hedge fund. It's bigger than any hedge fund. It's more leveraged, to the power of three or five, than any hedge fund.

Nouriel Roubini

For me, geopolitical issues are becoming more important, because how can you understand economy if you don't understand geopolitics? People think economists just deal with spreadsheets and charts. That's a narrow-minded caricature.

Nouriel Roubini

I don't personally consider myself Dr. Doom. I call myself Dr. Realist, even though it's less exciting and more boring than being called Dr. Doom. If you are consistently saying 'the world is going to end,' who is going to listen to you?

Nouriel Roubini

I believe, unlike people that are totally free-market, laissez-faire fundamentalists, that there is an important role that the government can play - one, in providing public goods, whether it's education, health care, or other things, and two, supervising countercyclical policy - stimulus, whether it's monetary, fiscal, or otherwise.

Nouriel Roubini

My family is a Jewish Iranian family, but I was born in Turkey and raised in Italy. So it's a very mixed background.

Nouriel Roubini

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.

Nouriel Roubini

Having spent 10 years studying emerging markets, I know that you have patterns repeated over and over again. A bubble is like a fire which needs oxygen to continue... when you see there is no oxygen, things change.

Nouriel Roubini

What is important to me is that when I write something, people listen to me. I provide my wisdom to people, whether they agree or not.

Nouriel Roubini

Celebrity has become a burden. There are more demands on your time. People think it is glamorous to fly places. But it is not - even if you travel business class and stay in wonderful hotels, you end 10,000 miles away from home.

Nouriel Roubini

A currency serves three functions: providing a means of payment, a unit of account and a store of value. Gold may be a store of value for wealth, but it is not a means of payment. You cannot pay for your groceries with it. Nor is it a unit of account. Prices of goods and services, and of financial assets, are not denominated in gold terms.

Nouriel Roubini

What we need to understand is, one, that there are market failures; and two, that there are things like asset bubbles and irrational exuberance. There are periods of booms, bubbles, and manias. These things, if left to themselves, can lead to crashes, to busts, to panics.

Nouriel Roubini

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.

Nouriel Roubini

No country can be complacent in making sure that excessive debt of the household doesn't create excesses and weaknesses in the financial system. Everything is interconnected.

Nouriel Roubini

A home is a home, and excess supply leads to prices falling.

Nouriel Roubini

The U.S. has been living in a situation of excesses for too long. Consumers were out spending more than their income and the country was spending more than its income, running up large current-account deficits. Now we have to tighten our belts and save more.

Nouriel Roubini

I love and collect contemporary art and go to all the art fairs. I love Damien Hirst and Matthew Barney. I grew up in Italy and had a humanistic education in philosophy and literature - things I love and appreciate. People are richer and more complex than just their day-to-day professional pursuits might suggest.

Nouriel Roubini