Nouriel Roubini's Global EconoMonitor

Roubini on White Swans

Nouriel Roubini addressed a full house at the 92nd Street Y (May 12, 2010) on Manahattan’s Upper East Side.   Matthew Bishop, author of The Road from Ruin, presented the questions and started things off by asking, “should you be allowed to be an economist and a celebrity?” which elicited a chuckle from the eager crowd.  Roubini responded by saying that lively discussion and debate are important, and while no one has a monopoly on truth, it does afford him the opportunity to be listened to.

Over the next hour and a half, Roubini spoke about the global economic outlook and its implications for financial markets and covered many of the themes of his new book, Crisis Economics: A Crash Course in the Future of Finance.  One of the key points made was that financial crises can be anticipated, understood, and even prevented – “white swans” as opposed to unpredictable “black swan” events.

Despite the serious nature of the conversation, the night ended on a light note when Bishop asked Roubini if he could predict something good.  Despite his well known nickname, Roubini responded that he is not a perma-bear, and he sees a lot of positive possibilities in technological innovation and the emergence of emerging markets.  He concluded that if we invest in the right things and implement the appropriate policies we can all be better off.


Nouriel Roubini (left) interviewed by Matthew Bishop (right)


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9 Responses to “Roubini on White Swans”

HayesMay 14th, 2010 at 4:47 pm

I posted in an earlier thread, which I cannot find, but that is sort of the point, I can’t find it. Navigating this new site is not conducive to engaging in a dialogue with fellow readers on the economic issues of the day. Prior to the redesign, Nouriel’s site was a wonderful destination for informed commentary and insightful comments and discussion. While the numerous articles provide a venue for reader comments, it was the professor’s economic monitor that was the central gathering place for discussion, debate and information. When I periodically return to I see some of the old names but nothing like it was prior to the redesign.It would really be nice if the professor or the site administrator could create a navigation link in a prominent location on the home page that would allow the regular readers of the professor to find “that gathering place”.It may be that the professor wanted to quell the discussion and if that was the case I believe he was successful but this is among other things a blog and to have a central location for reader input would be an enhancement in my opinion.

MorbidMay 14th, 2010 at 6:43 pm

Hayes,I quite agree.Here is a WHITE SWAN suggestionTo the professor’s response about saying something bright as being investing in the right stuff – well, it seems to me planned parenthood should be a high priority investment. The planet is breeding itself into an unsustainable situation. The more we shit in our own nest the more likely future generations will suffer. But of course to limit population growth would be the end of economic growth as the Ponzi scheme would be dealt a terrible blow.

GuestMay 14th, 2010 at 10:09 pm

morbid, would not be a surprise would it.. i mean you know pigs often eat their own shit.. poor those pristine clean doves living in the piggy sty, piggies shoving shit down their beaks.. but hmmm maybe just maybe the doves can peck those piggy eyes while they are sleeping and fly away, (if the doves remember that they have usable wings and strong sharp beaks)

Guest alsoMay 16th, 2010 at 2:38 am

keen and keiser. and repository for all toxic junk/debt,lies and make believe with expensive suits.the facilitator of last facilitation, globalboss bank. imf.a pondered evil store house or global bad bankto make all right in the world for santa, missesclaws and the munchkins who would otherwise freezeto death in the snow with their rifles if notfor that one good connection.the future trend to globaldemocratization of fiat yet binding fantasy. verysick but i think it will be tried and may work for thefoot soldiers of neverland. “we are the world, we arethe children.” m.j.or as they used to say, before he was murdered, “the man”..”when the going gets weird, the weird turn pro.” is frightening to think we will all die in a massivestate of delusion, deception and saturated in a globalwave of chaos, doom, or maybe just a personalperspective problem.

economicminorMay 16th, 2010 at 9:16 am

I agree with Hayes.I also miss the general dialog, commentary and information that was there. It was a favorite spot for me to read diverse and mostly thoughtful and insightful people. I really wish I knew where all those people are posting now. They really filled in a lot of gaps I have in the kaleidescope of economic events facing all of us today.The closest blog I’ve found is Steve Keen’s blog. It spends to much time on the Australian home bubble and to little on general economics. It wasn’t always like that but in the last 6 months Steve got into a rut.Anyone know where most of the posters went? As they aren’t here any longer or their posts are to scattered.There were some problems with the original blog design. It wasn’t as much a design flaw but a human nature flaw. Some people would post long and mostly irrelevant poems and rants. Some were rather obnoxious. That could have been fixed with an ignore selection.

blindmanMay 16th, 2010 at 10:34 am

try zero hedge, amazing format/facility/site and what/whereouter beltway? and that project?.for pjb, check his verbewarp,.some of the problem now is what is unfolding has alreadybeen discussed pretty exhaustively two or three years agoon n.r.’s blog. check the old stuff. i think the repetitiontires some of the writers, have moved on?.but the long poetry, “irrelevant” and rants has its placetoo, in my world. but you are correct, a button or flagto hide would help tidy things

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