Roubini Reuters Videos on Global Perfect Storm and Europe’s Slow Motion Train Wreck
Reuters — Roubini: Euro crisis a “slow motion train wreck” – Freeland File (4:26)
Reuters — Roubini: “Global perfect storm” looms – Freeland File (2:17)
6 Responses to “Roubini Reuters Videos on Global Perfect Storm and Europe’s Slow Motion Train Wreck”
Very nice work Nouriel.
I'm interested, you seemed to describe it as a moral certainty that Iran was developing a nuclear bomb, a view which is inconsistent with the clear and ongoing consensus of the US intelligence community, including the NSA, CIA, NRO and DIA, that Iran does NOT have an ongoing program to develop a nuclear weapon.
Do you have three confidence intervals in your assessment?
Your tone and manner in this video certainly support a contention that you do.
And I do believe, with all due respect, that the NSA is not acting foolishly here. I'm a fan of Admiral Inman. Enough said.
Other than that though, a superb job dealing with some complex material!
Roubini sees the big picture. Some call him a pessimist, but i call it realism. Seeing things as they are (or as our gutt feeling tells us they will be).
Roubini has been warning about the "perfect storm" for over a year now. He's not a prophet. He just sees the facts (with detail) and puts the puzzle together. And then the picture speaks of itself.
Change is about to happen all over the world. And the more we postpone the (positive) change the worse it will be for world recovery. things will get bad (financially) world wide before they get better. Buckle up.
We need to let part of the banking system to fail, in order to save nations and people. Then start from scratch with a healthy balance sheet and a PLAN for real growth around the globe! We need to create consumers all around the world. A real world trade that involves everyone, not just big players who pocket trillions and dont redistribute the money. Thats the only way for fair growth and international social peace. The opposite will bring major world unrest.
But the consumerism model is threaded with flaws and this is what you are advocating as a way forwards. Certainly we cannot overnight stop consuming as such and never will. But let me take you to the average person's home in the West. You could fill a pick-up truck or two with the items each household has that is excessive to their needs.
How about a government standard that demands a lasting product value. I am fed up living in a society that is based on it's cheap enough…ah well, never mind it's broken. It is cheap enough and I have had it six months or a year and I will buy anther one as they are so low cost. This is unsustainable as well as economically foolish.
Durability and value for money is needed in our world society. Let me make a point. If you develop a product such as a solar lamp for the developing worked you would ensure it has the quality and durability for these areas so it is giving value for money over its long-life that you have planned for that product. The Western world has been misled down the path of consumerism to a very serious degree of self destruct. I put it to you that if we wish to believe in a future for our society then we must start planning immediately in our rules and laws of how we make and consume what we do.
So what your suggesting is bring on the taxation for any overage of alloted, say "weight of garbage" for one week so that maybe people will reuse, or keep what they have instead of buying a new replacement. Be taxed for any overage of purchases a single household is alloted per month due to "waste (enviroment affects) accumulated"? Therefore maybe they will not be so quick to buy things? Sounds a lot like the Green Tax whispers, just another form of Big Government growing bigger and doing nothing to help.
I don't believe we will ever have any influence on China and cheap labor, so durability is not a card in this game, consumerism is and will probably always will be, so here come more "Green Tax." TALK.
Mr. Nouriel Roubini is right, from my point of view, since I'm watching the crisis from May 2010 on. He is, in fact, not pessimistic, but realistic.
The Euro-Zone will end in a tragedy.
Regards from Berlin