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☆ Why one economist says Elon Musk has turned Tesla into a meme stock
▼ + stars: | 2024-05-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The economist thinks the firm no longer keeps up with what CEO Elon Musk promises. Musk really wants Tesla to be a tech company, but it's an automaker, DeLong said. Advertisement"For all the current Tesla shareholders planning to offload their holdings in the next couple of years, everything hinges on the company succeeding as a meme stock, and Musk is diligently working toward that goal," DeLong argued. Last month, investor Roger McNamee warned that the stock would start trading like a car company if shareholders decided that Musk wasn't central to its narrative. In a similar vein, short-seller legend Jim Chanos called Tesla a "hopes and dreams" stock, trading more on Musk than fundamentals.

Persons: J, Bradford DeLong, Elon Musk, Musk, Tesla, DeLong, —, Elon, Roger McNamee, Jim Chanos Organizations: Project Syndicate, Service, UC Berkeley, Street

☆ 3 issues that could make or break the US economy over the next year, according to top economist Mohamed El-Erian
▼ + stars: | 2024-04-29 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Mohamed El-Erian named three key risks that will determine where US growth is headed in 2024 through 2025. That includes changes to the Fed's inflation target and low-income consumer spending. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIf Wall Street was wrong about recession odds in 2023 and 2024, forecasting for next year won't be any easier, Cambridge economist Mohamed El-Erian wrote in Project Syndicate. "Given high interest rates and some creditors' loss of enthusiasm, this cohort's willingness to consume will hinge on whether the labor market remains tight," El-Erian wrote.

Persons: Mohamed El, Erian, —, he's Organizations: Service, Project Syndicate, Federal Reserve, El Locations: Cambridge, El

☆ AI will spark massive disruptions to labor markets and there's no social safety net that can contain the fallout, University of Chicago professor says
▼ + stars: | 2024-04-12 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

The job market will see "massive" disruption as AI becomes more prominent, a professor warned. There's no safety net that can contain the fallout from AI's impact, Eric Posner argues. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementArtificial intelligence will upend the job market even in the best-case scenario — and there's no social safety net for workers who are at risk of being put permanently out of work, according to University of Chicago professor Eric Posner.

Persons: Eric Posner, —, Posner Organizations: Service, University of Chicago, Project Syndicate, Business

☆ China needs a new economic plan that focuses less on exporting and more on domestic growth, 'Dr. Doom' Nouriel Roubini says
▼ + stars: | 2024-04-04 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

China will stagnate if it relies on manufacturing and exports to grow, Nouriel Roubini wrote in Project Syndicate. That growth model is outdated and worked in a time when foreign markets were more open to Chinese products. AdvertisementChina can't grow out of its economic problems if it stays focused on manufacturing and exports, says famed "Dr. Doom" economist Nouriel Roubini. "The old Chinese growth model is broken," the perma-bear economist wrote for Project Syndicate, later adding: "China therefore needs a new growth model concentrated on domestic services — rather than goods — and private consumption." Related storiesWhen China's economy was smaller, this form of growth made sense, as its exports were still manageable for foreign markets, Roubini said.

Persons: Nouriel Roubini, Doom, —, Roubini, Xi Jinping, he's, Paul Krugman Organizations: Project Syndicate, Service Locations: China, Beijing

☆ Trump's proposed tariffs would be 'recessionary' and could spark a resurgence in inflation, Harvard economist says
▼ + stars: | 2024-03-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Trump's trade policies would be "recessionary" and could make inflation worse, according to Kenneth Rogoff. The Harvard economist pointed to Trump's proposed tariffs on imports, including a 60% tariff on Chinese goods. AdvertisementDonald Trump's proposed tariffs on imports would have "recessionary" effects on the US economy and could end up sending inflation higher again, according to top economist Kenneth Rogoff. Rogoff said that Trump's proposed policies and Joe Biden's Inflation Reduction Act make them both the "most protectionist" presidential candidates the US has seen in a while, Rogoff said to Bloomberg on Wednesday. That could hamper economic growth and stoke inflation, making Trump one of the biggest threats to the global economy, "Dr. Doom" economist Nouriel Roubini recently argued.

Persons: Kenneth Rogoff, —, Donald Trump's, Rogoff, Trump's, Joe Biden's, Doom, Nouriel Roubini, Biden, Donald Trump, overspending Organizations: Harvard, Bloomberg, Service, International Monetary, stoke, Trump, Bank of America, Project Syndicate Locations: China, stoke, Washington, Japan

☆ A Trump vs. Biden rematch is on, and it's a showdown most Americans didn't want
▼ + stars: | 2024-03-13 | by ( Mia Jankowicz | Tom Porter | ) www.businessinsider.com time to read: +4 min

Read previewPresident Joe Biden and his predecessor Donald Trump have clinched their parties' nominations for the 2024 presidential election — a rematch that long seemed both inevitable and largely disfavored by voters. AdvertisementA Reuters/Ipsos poll published in January indicates that a Biden-Trump rematch is one most American voters didn't want to see. In the nationwide poll of 1,250 US adults, 70% of respondents, including half of Democrats, said Biden shouldn't seek reelection. "Trump also has a loyal, energetic base, whereas Biden's re-election bid generates almost no enthusiasm, even among Democrats," Boskin wrote. "Still, many Americans strongly oppose a second Trump term and more than 20% of those who voted in the Republican primaries say they won't vote for Trump."

Persons: —, Joe Biden, Donald Trump, Biden, Trump, Nikki Haley —, It's, Biden shouldn't, shouldn't, Roe, Wade, Michael J, Biden's, Boskin Organizations: Service, Business, Associated Press, Republican, Trump, USA, Biden, Republicans, Stanford University, Project Syndicate Locations: Georgia , Mississippi, Washington, Hawaii, Israel

☆ Why one economist says a US recession is still the most likely outcome
▼ + stars: | 2024-03-12 | by ( Aruni Soni | ) www.businessinsider.com time to read: +1 min

There's still a big risk of the US economy hitting a recession, Michael R. Strain wrote in Project Syndicate. Some key signals are pointing to a recession on the horizon, he wrote. "The economic outlook is unusually murky, with different sets of indicators telling different stories." "The economic outlook is unusually murky, with different sets of indicators telling different stories," Strain wrote for Project Syndicate on Monday. But those indicators also suggest that a hard landing — a recession — is more likely than a soft landing."

Persons: There's, Michael R, Strain, — Organizations: Project Syndicate, Service, American Enterprise, Business

☆ Trump Reelection a Threat to Economy, Could Stoke Inflation, Debt: Roubini
▼ + stars: | 2024-03-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

A Trump reelection in November poses the biggest looming risk to the world economy, Nouriel Roubini warned. A second Trump presidency could end up making inflation and the national debt problem even worse, Roubini said. AdvertisementTrump being reelected might be the biggest looming threat to the global economy, according to "Dr. Doom" economist Nouriel Roubini. Advertisement"With private and public debts high and rising, that would introduce the specter of a financial crisis," Roubini warned. In 2022, he warned markets of a coming stagflationary-debt crisis, which could spark a painful recession and 30% plunge in stocks.

Persons: Nouriel Roubini, Trump, Roubini, —, Doom, Trump's, Powell Organizations: Trump, Service, Project Syndicate, Commerce, Bank of America, Bloomberg Locations: Ukraine, Gaza, China

☆ Jennifer Lopez says her stylist pleaded with her not to wear the iconic green Versace dress to the 2000 Grammy Awards
▼ + stars: | 2024-02-23 | by ( Amanda Goh | ) www.businessinsider.com time to read: +3 min

Velour tracksuits and low-rise jeans are in trend, and Jennifer Lopez just caused a stir while walking the red carpet at the Grammy Awards in a flowy, green jungle-print Versace gown. In a new interview with Vogue, Lopez revealed that her then-stylist, Andrea Lieberman, pleaded with her not to wear the dress to the awards. Jennifer Lopez at the 42nd Annual Grammy Awards in 2000. Jennifer Lopez at the 42nd Annual Grammy Awards. This first became apparent after the 2000 Grammy Awards, where Jennifer Lopez wore a green dress that, well, caught the world's attention," Schmidt wrote.

Persons: Velour, Jennifer Lopez, Lopez, Andrea Lieberman, Steve Granitz, Versace, Marilyn Monroe's, Marilyn, Sean, Diddy, Combs, Carly Steel, Amber Valletta, Donatella Versace, Geri Halliwell, Lopez wasn't, Eric Schmidt, Schmidt Organizations: Vogue, Business, Milan, Metropolitan Museum of Art, Spice, NRJ, Project Syndicate, Google Locations: New York City, Cannes, France

☆ Women in China Aren't Having Kids. 3 of Them Told Us Why.
▼ + stars: | 2024-02-11 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +8 min

Read previewWhen it comes to settling down and having children, 26-year-old Bihan Chen views the choice in simple terms: It's a bad investment. Falling birth rates saw China's population shrank in 2022 for the first time since the early 1960s. "When it comes to having children, I don't have a shred of desire, only fear. AdvertisementOthers cited the loss of personal freedom as a key obstacle to having children. Having children remains a deeply personal decision that can't be evaluated by finances alone.

Persons: —, Chen, Emily Huang, Huang, Xi Jinping, Xi, Zhu Zheng, haven't, Dudley L, Poston Jr, Rich, we've, Lanjie Wang, Wang, Collin Meisel, might've, Yi Organizations: Service, Business, Women's Congress, Getty, Texas, M University, Weibo, University of Denver's, Center for International Futures, Publishing, University of Wisconsin, Project Syndicate Locations: China, Beijing, Weibo, Xinhua, Japan, Korea, America, Madison

☆ There's little reason to be optimistic about a soft landing this year as the 'runway is in an earthquake zone,' Harvard economist says
▼ + stars: | 2024-02-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Growing hope for an economic soft landing is misplaced, economist Ken Rogoff wrote this week. The Harvard economist sees the runway for the economy in an "earthquake zone" in 2024. AdvertisementThere's little reason to be optimistic about a soft-landing, as the economy is set to land in an "earthquake zone" in 2024, according to top economist Ken Rogoff. Advertisement"Despite the widespread belief that the global economy is headed for a soft landing, recent trends offer little cause for optimism. The US also faces trouble as the national debt continues to surge and interest rates look poised to stay higher-for-longer.

Persons: Ken Rogoff, —, Doom, Rogoff Organizations: Harvard, Service, Syndicate, International Monetary Fund, Fed, Federal Reserve, New York Fed, Cleveland Fed Locations: China, Europe, Ukraine, Russia

☆ Why China's economy is doing better than people think
▼ + stars: | 2024-01-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAlthough China looks dead-set on another year of economic distress, its prospects are brighter than they seem, a former advisor to the People's Bank of China wrote. For this reason, it helps that China's economy faces two-pronged deflation, with both consumer and producer price indices in the red, Yongding wrote. That means Beijing can inject considerable fiscal stimulus without concerns about inflation. According to Yongding, China's infrastructure is still behind in critical sectors, such as healthcare, education, and transportation.

Persons: —, Yu Yongding, Yongding Organizations: Service, People's Bank of China, Business, Project Syndicate, Monetary Locations: China, Beijing

☆ America's economy should be 'thrilled' billionaires like Jeff Bezos and Warren Buffett exist, think-tank director says
▼ + stars: | 2024-01-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Billionaires are actually great for the economy, a director at the American Enterprise Institute argues. That's because billionaire innovators produce trillions of dollars of value for the US. The center-right think tank's Michael Strain argues that billionaires produce many times their net worth in value for the economy through their innovations. But billionaire innovators — not billionaire heirs and heiresses — may be the exception to that, Strain said. AdvertisementIn fact, billionaire innovators should be considered "worthy of emulation" for children, Strain added, praising an array of business icons.

Persons: —, Elon Musk, Jeff Bezos, Michael Strain, heiresses, Strain, Bezos, Mark Zuckerberg, Bernard Arnault — Organizations: American Enterprise Institute, Service, Amazon, Syndicate, Economic

☆ Despite 'Dr. Doom' reputation, Nouriel Roubini thinks the global economy will avoid a worst-case scenario
▼ + stars: | 2024-01-09 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Nouriel Roubini thinks the global economy will avoid a worst-case scenario this year. That's despite his reputation as a permabear, which has earned him the nickname "Dr. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe world economy will likely dodge the worst-possible outcomes this year, according to long-time permabear Nouriel Roubini. This story is available exclusively to Business Insider subscribers.

Persons: Nouriel Roubini, That's, Doom, —, Roubini Organizations: Service, Syndicate, Business

☆ The market 'bloodbath is likely to continue' with investors set to lose tens of trillions over next decade, Nouriel Roubini says
▼ + stars: | 2023-11-27 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Nouriel Roubini cautioned markets to prepare for persistently higher inflation rates. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. And efforts to reduce inflation through higher interest rates risk causing a recession among highly-leveraged borrowers, something governments want to avoid. AdvertisementFaced with this, central banks could raise inflation targets above historical averages, as signaled by the fact that many are pausing rate hikes despite still too-high core inflation, Roubini said. To deal with this situation, Roubini noted that some countries will simply allow higher inflation to erode nominal debt.

Persons: Nouriel, Roubini, —, Doom Organizations: Service

☆ China's economic situation isn't as dire as it seems, and policymakers in Beijing were just expecting too much, economist says
▼ + stars: | 2023-09-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

China's economy isn't doing as bad as it seems, according to economist Nancy Qian. But Beijing has been disappointed due to outsized expectations for economic growth. Though it's weighed down by a bloated property sector and looming demographic problems, China's economic growth actually clocked in at 6.3% year-over-year over the second quarter, according to the Organization for Economic Cooperation and Development. That's the second-highest projected growth rate among countries tracked by the OECD, with the US, by comparison, slated to grow just 2.2% this year. AdvertisementAdvertisement"But is China's economy really in dire straits?

Persons: Nancy Qian, it's, That's, Qian Organizations: Service, Organization for Economic Cooperation, Development, OECD, Northwestern University, Northwester's, Research Lab, China Econ, Syndicate, Japan Locations: Beijing, Wall, Silicon, China, Italy, Spain, Sweden

☆ De-dollarization would require governments to sever political and economic ties with US
▼ + stars: | 2023-09-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

The dollar's dominance is sticky, political scientist Carla Norrlöf wrote in Project Syndicate. A de-dollarization collective is also unlikely as countries could lose access to the US security guarantee, Norrlöf said. "Governments would need to sever economic and political ties to the US. A de-dollarization collective is also unlikely as countries would lose access to the US security guarantee, Norrlöf said. Even governments who are not direct beneficiaries of American defense would hesitate to worsen relations with the US, a leading military power.

Persons: Carla Norrlöf, Norrlöf Organizations: Project Syndicate, Service, University of Toronto, Atlantic Council, greenback Locations: Wall, Silicon, China, Russia

☆ The US needs to get its ballooning debt problems under control to keep the dollar dominant, former IMF official says
▼ + stars: | 2023-09-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The dollar's dominance is being threatening by growing debt in the US, economist Barry Eichengreen said. High debt caused the downfall of the British sterling as a global currency in the early 1900s, scholars say. Mounting debt was responsible for the British sterling's downfall as the world's top currency in the early 1900s, Eichengreen said. AdvertisementAdvertisement"Thus, whether the dollar retains its global role will depend not simply on US relations with Russia, China, or the BRICS. But a weaker dollar isn't necessarily a bad thing, as US companies with business overseas can be hurt if the dollar is too strong against local currencies.

Persons: Barry Eichengreen, Eichengreen, there's Organizations: Service, International Monetary Fund, Syndicate, UC Berkeley, Congressional, Office Locations: Wall, Silicon, China, Russia

☆ Opinion | The Scientist Who Foresaw China’s Stagnation
▼ + stars: | 2023-08-28 | by ( Peter Coy | ) www.nytimes.com time to read: +2 min

By 2013, Chinese authorities had begun to come around to his views. As parlous as China’s situation appears in the official statistics, Yi said things are actually worse. They also acknowledged that the fertility rate had fallen to 1.0, far below the replacement level of 2.1. Yi argues that China’s population is 1.28 billion, instead of the 1.41 billion the government claims. “China’s decline will be gradual,” Yi wrote in yet another commentary.

Persons: ”, hasn’t, Yi, “, ” Yi Organizations: Xinhua, Boao Forum, Asia, Times, National Health, Family Planning, Boao, Communist Party’s, Syndicate Locations: United States, China, ”, Russia, Ukraine

☆ Another Trump presidency will spark a constitutional and economic crisis, warns billionaire investor George Soros
▼ + stars: | 2023-08-25 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

George Soros expects a economic crisis if Donald Trump regains the White House. He told Project Syndicate the US would face both a constitutional, and economic, crisis. The Soros Fund Management founder made his remarks in a Project Syndicate article as the 2024 election cycle gets underway and Trump faces a host of legal battles. AdvertisementAdvertisementThat's not stopped Trump from seeking the Republican nomination for a third time – something that's not sitting well with Soros. But if I am wrong, the US will face a constitutional crisis that is likely to bring on an economic crisis as well," he added.

Persons: George Soros, Donald Trump, It's, Trump's, He's, Trump, that's, Soros Organizations: Syndicate, Federal, Service, Soros Fund Management, Trump, Republican Locations: Wall, Silicon

☆ 'Dr. Doom' Nouriel Roubini says China and the US need to dial back tensions or risk a conflict that would destroy the world economy
▼ + stars: | 2023-08-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The US and China are on a collision course that threatens the world economy, Nouriel Roubini warned. The "Dr. Doom" economist pointed to growing tensions between the US and China. "If they fail to achieve a new understanding on the issues driving their current confrontation, they will eventually collide." "That would lead inexorably to a military confrontation that would destroy the world economy, and which could even escalate to an unconventional (nuclear) conflict. AdvertisementAdvertisementRoubini has repeatedly warned of catastrophe for the global economy over the past year.

Persons: Nouriel Roubini, Doom, Roubini Organizations: Service, Syndicate, Taiwan Locations: China, Wall, Silicon, China's, Taiwan

☆ China's economic troubles are a result of the post-2008 'debt supercycle' finally coming back to bite it, Harvard economist says
▼ + stars: | 2023-08-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

China is being hit by a "debt supercycle" that began with the 2008 financial crisis, Kenneth Rogoff said. While Beijing has a strong record of containing economic fires, today's crisis of slowing growth and high debt is unprecedented, he added. "The debt supercycle may have lasted longer than initially expected, perhaps because of the pandemic. But it was a critical piece of the story, and now, as China's economy falters, it is the best explanation for what might come next," he later added. Trouble for China's economy could stretch on over the long-term as it faces poor growth prospects, experts have warned.

Persons: Kenneth Rogoff, Rogoff Organizations: Service, Project Syndicate, Harvard Locations: China, Wall, Silicon, –, Europe, Beijing

☆ The biggest threat to the dollar is the US itself, top economist Benn Steil warns
▼ + stars: | 2023-08-20 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

But the US itself poses the biggest threat to the buck's dominance, according to Benn Steil. Debt-ceiling standoffs and “growing weaponization” could undermine the currency, he said. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. "The biggest threat to the dollar's dominance comes not from competitive alternatives, but from the US government itself," Steil, who's the director of international economics for the Council on Foreign Relations, wrote. "Just as the overuse of antibiotics fuels antimicrobial resistance, excessive use of sanctions prompts targeted countries, as well as potential targets, to reduce their engagement with the US financial system," Steil wrote.

Persons: Benn Steil ., Benn Steil, Biden, Fitch, heightening, Vladimir Putin, that's, Elon Musk, Steil Organizations: Service, Project Syndicate, Council, Foreign Relations, International Monetary Fund, European Union Locations: China, Russia, Wall, Silicon, US, Ukraine

☆ Ukraine's NATO membership would be bad for Putin, but great for the Russian economy, professor says
▼ + stars: | 2023-07-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Russia's economy could return to global markets if Ukraine joins NATO, Konstantin Sonin wrote. The Russia scholar said Kyiv's membership in the alliance would make it harder for the Kremlin to justify outsized military spending. Such rhetoric typically prioritized high military spending over economic welfare, a factor in the Soviet Union's 1991 downfall, Konstantin said. "To be sure, bringing Ukraine into NATO would not undo the damage Putin has inflicted on the Russian economy," he said. And the growth of military spending has been difficult to track because an increasingly larger portion of it has been determined a state secret.

Persons: Konstantin Sonin, Putin, Vladimir Putin, Long, Konstantin Organizations: NATO, Service, University of Chicago, Project Syndicate Locations: Ukraine, Russia, Wall, Silicon, Soviet

☆ China's economy is in trouble - and its youth unemployment crisis is at the heart of the problem
▼ + stars: | 2023-07-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

China's youth unemployment problem is the root of its economic woes, according to economist Nancy Qian. That's largely due to a shortage of high-skill, high-paying jobs, which will weigh on its economy. That's largely been driven by the lack of high-skill and high-paying jobs in China's employment market, which have left many college graduates unable to find work. Meanwhile, China's economy has been slowing, with the nation seeing a disappointing economic revival since dialing back its zero-COVID policies at the start of this year. But current patterns raise profound concerns for China's economic outlook, especially considering that the government's policies for addressing them have not worked," Qian said.

Persons: Nancy Qian, That's, Qian, It's, that's Organizations: Service, Northwestern University, Project Syndicate, National Bureau of Statistics, Monetary Fund Locations: Wall, Silicon, China

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