Michael Milken Faces Off With Nouriel Roubini: What Could Possibly Go Wrong?
11 Responses to “Michael Milken Faces Off With Nouriel Roubini: What Could Possibly Go Wrong?”
Great interview. Roubini tells it like it is. Milken tells it how he wishes it was. I think that it reinforces the idea, that the world has two kinds of people, those who don't know and those who don't know that they don't know. Dr. Steve
Shortage of skilled technical work force is a big lie. Look at the IBM and GE who continously laying off their experienced technical work force and replacing with less educated but targeted temporary technical workers from overseas on contracts. So the shortage should be defined as " the shortage of a skilled low cost work force who are ready to work on temporary assignedment on demand".
US multinational corporations have moved their factories in low cost countries to boost their profit margines. Huge number of semi-skilled labors have no chance find a similar job in near future. They can not be retrained or they do not have apptitude / ability to learn other trade. But the same corporations forgot that they can not continue sale their products to the unemployed i.e. the persons they have fired for short term profit.
In short, the current unemployed will not see any light at the end of tunnel until they get up and start cleaning the political and economic structure and redefine the agenda. Mean time I see lots of hot air in US and bursting bubbles for next few years…
Milken likes to hear himself talk. He obviously thinks alot of himself. I would pay good money to stay away from whatever he talks about.
The oil market is not controlled by markets, but by oligarchs, so market-based solutions are not a full answer.
Roubini is asked to point out the problems and the likely bad outcomes. Milken then ignores those problems and points to some good things going on. What is the point? It is like telling a sick patient who is likely dying of x, y, and or z that he has really nice biceps, great skin tone, and a truly man size…well never mind, you get the point.
That Milken even has the chutzpah to show his face in public after enriching himself by single-handedly bringing down the respected brokerage firm that employed him, and destroying the wealth of thousands of others in the process, is a testament to his ridiculously overblown image of himself. What a putz.
Milken is abusive, inviting Roubini to speak only to chatter endlessly, instead of allowing Roubini to talk. few want to listen to this two bit reformed Ganev to do his number, those who care about the markets want to hear the views of Roubini, why not let the fellow speak? Mr. Milken should have remained in the federal Pen a bit more time, to cool his jets, make him a bit more humble, this is utterly unbecoming…inviting all this talent, to hear oneself speaking over them
Was it a good echange? I think not. It was a bit too tense, as both men were highly irritated by one another. Roubini, being a parvenu, lacks social graces. He has a hard time hidding both his ambitions, and his justified, but still tacky, sense of arrogance. Milken look as if he's on some heavy medications, and he's always been an odious character, regardless of his institute.
Both suggset something a bit odd – more immigration. Roubini doesn't think immigration is a problem for Europe. It is. If Europe had been wise enough to be very careful about extra-european immigration, perhaps it would have avoided the social collapse which has become inevitable. For someone as smart as Roubini, to ignore the elephant in the room, is actually quite normal, becuase his career would suffer.
Milken's seeming suggestion that a sizable portion of the world would like to immigrate to America reeks of pure economic opportunism.
The idea that economics can be divorced from demographics, is a bit fallacious.
i was looking for this information for a long time to because this is very help full information
An economist is a mathematician gone bad. A rich economist is the converse.
I want to thank you for this very inspiring and informative video. Surely my friends can learn something by watching this knowledgeable facts…