Nouriel Roubini, the renowned economist who predicted the housing bubble in 2008, TCG past speaker and Member of the Honorary Advisory Board , was recently featured across several media platforms for his economic expertise. The co-founder and chairman of Roubini Global Economics is known for his bearish outlook, often predicting pessimistic outcomes. He has, as a result, engendered the nickname “Mr. Doom”.
Roubini’s take on the current trade war between China and the United States has elicited a lot of attention, receiving features on news networks such as CNBC, BBC, and News18. He believes that the trade war between the United States and China will lead to “de-globalization” and, as it is unlikely to be resolved in the near future, may lead to a global recession. He fears that “We’ll have to redo the global tech supply chain” as a result of this de-globalization. He points to the decrease of CapEx, or capital expenditures, as evidence of the impending recession because, “once the capex is down, then the industrial production is down and the employment is down, and you have the beginning of a global recession that starts in tech, then in manufacturing, then in industry and then goes to services.”
Roubini also gained attention for his qualms with BitCoin, asserting that the currency is not decentralized or secure enough and is destined to fail. He is not supportive of any crypto currencies and is quite open about this fact, engaging in public debate with Arthur Hayes, CEO of BitMex, a crypto currency.
Though Roubini’s outlook may seem negative, it is important to listen to experts such as him on the topic in order to be prepared for the worst case scenario. With such success in predicting economic trends in the past, it seems prudent to take Roubini’s projections seriously.
Click here to read the full CNBC article on Roubini.
Author: Lily Kaye [TCG Intern]