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☆ Trump 2.0 would be destructive for the economy, as the former president embraces 'crank' doctrine and economic fantasy, Paul Krugman says
▼ + stars: | 2024-04-30 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Blame the former president's "quack" economic policy and his tendency to deny reality, according to Nobel economist Paul Krugman. Similar "destructive" policies could be re-enacted in the US if Trump is re-elected in November, Krugman said. AdvertisementSome of Trump's economic policies during his presidency were flawed, Krugman said. If re-elected, Trump has said he plans on cracking down on immigration and imposing tariffs on US imports, especially those from China. "What's really worrisome, however, are indications that a future Trump regime would manipulate monetary policy in pursuit of short-run political advantage, justifying its actions with crank economic doctrines ...

Persons: —, Paul Krugman, Krugman, Trump, he's, that's, Nouriel Roubini Organizations: Service, The New York Times, Business, Federal Reserve, Trump Locations: China, stoke

☆ Trump advisers are mulling penalties for any countries that stop using the dollar, report says
▼ + stars: | 2024-04-29 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Donald Trump's advisors are discussing penalties for countries that move away from the dollar, sources told Bloomberg. 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 . AdvertisementEconomic advisors to Donald Trump are working out plans to blunt de-dollarization efforts, which could include penalties on any economy that moves away from the greenback. As of March, the dollar still leads in global payments, making up 47.4% of transactions, SWIFT data shows.

Persons: Donald, —, Donald Trump, Trump, Emmanuel Macron, hasn't, Nouriel Organizations: Bloomberg, Service, greenback, West, United, CNBC Locations: Ukraine, China, Russia, Saudi Arabia, United Arab Emirates, Europe

☆ 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

☆ How the climate crisis will affect the U.S. economy: Top economists Jeffrey Sachs, Nouriel Roubini and Mark Zandi discuss
▼ + stars: | 2024-03-17 | by ( Jack Hillyer | In Jackhillyer | ) www.cnbc.com time to read: +1 min

As the climate crisis continues to pose a global threat, top economists are debating its effect on the U.S. economy. Mark Zandi, chief economist at Moody’s Analytics, projects "physical risks" will be the biggest economic cost over the next 10 to 20 years. Zandi also projects transition costs associated with moving from a fossil fuel-dominated economy to one driven by green energy will put a weight on the U.S. economy. Nouriel Roubini, an economics and international business professor at New York University, says there will be pressure from stakeholders and society to make a green transition. Watch the video above to see how top economists predict the climate crisis will affect the U.S. economy.

Persons: Mark Zandi, Jeffrey Sachs, ”, Sachs, Labor Robert Reich, Nouriel, Mariana Mazzucato Organizations: Moody’s, Columbia University, Labor, New York University, University College London Locations: U.S

☆ 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

☆ Nearly everyone has given up on their recession call, and that makes the outlook 'dangerously reminiscent' of 2007, SocGen says
▼ + stars: | 2024-03-13 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Recession views are dangerously similar to those in 2007, SocGen's Albert Edwards said. Soft landing or no landing outlooks are growing on Wall Street as the US appears on solid economic footing. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Those signs appear lost on many other market commentators, who have dialed back their recession views in the last few months. "All this is (dangerously) reminiscent of 2007, when all around were telling me I was wrong and should give up calling that much-delayed recession," he later added.

Persons: SocGen's Albert Edwards, Edwards, —, Société, Albert Edwards, That's, Doom, Nouriel Roubini Organizations: Service, Chicago, York Fed's Survey, Consumer, National Federation of Independent Business, National Association of Business, Fed, Investor Locations: York

☆ Markets are hitting record highs. And economists like El-Erian and Krugman can't shake off their fears
▼ + stars: | 2024-03-08 | by ( Zahra Tayeb | ) www.cnbc.com time to read: +4 min

Stellar prices for gold have also stolen investor attention, with the precious metal scaling a new record of over $2,100. The record-breaking numbers for markets, however, haven't stopped some investors from worrying about three key issues. Inflation resurgenceAfter months of cooling, U.S inflation is proving itself to be more stubborn than experts had predicted. That's despite the Federal Reserve embarking on an aggressive monetary policy campaign over the past year, in a bid to tame consumer price pressures from their 40-year highs. Ariel Investments' Vice Chair Charlie Bobrinskoy told CNBC markets are not focused on China's residential real estate problems.

Persons: Michael M, haven't, Nobel, Paul Krugman, Mark Zandi's, Mark Zandi, Krugman, Nouriel Roubini, Doom, Trump, Marko Kolanovic, Mohamed El, Erian, Ariel, Charlie Bobrinskoy Organizations: New York Stock Exchange, Santiago, Federal, stoke, Allianz, Bloomberg, CNBC, El, Ariel Investments Locations: New York City, U.S, China

☆ 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

☆ Bitcoin's back on top, but it's not a boon for everyone in the space
▼ + stars: | 2024-03-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at bitcoin's latest rally and what's driving it so high this time around . The milestone comes amid a massive rally for bitcoin over the past month, where its price has surged almost 60%. Business Insider's Phil Rosen has a full rundown on what's pushing bitcoin's price so high this time . SOPA Images / GettyA boon for bitcoin doesn't mean everyone in the space wins. The insider I spoke to said there's no single, agreed-upon narrative for what's driving crypto toward a new peak.

Persons: —, you've, Phil Rosen, BlackRock's, Jamie Dimon, there's, Tom Williams, Doom, Roubini, BofA, Li Qiang, headwinds, Mark Zuckerberg's, Andrew Bosworth, Sam Altman's, Altman, Hugo Herrera, Lachlan Murdoch, Nordstrom, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Bitcoin, JPMorgan, Bank of America, Beijing, Apple, Getty, European Commission, Employees, BI, Boomers, Fox, Target Locations: bitcoin, China, Chengdu, Southwest China's Sichuan, New York, London

☆ 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

☆ 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

☆ Bitcoin is back (sort of)
▼ + stars: | 2023-11-10 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

The big storyCrypto comebackSOPA Images / GettyThe ink is barely dry on Sam Bankman-Fried's conviction, and bitcoin is already rising like a fresh divorcee. It marked the highest price for the cryptocurrency since early May 2022, adding to what has quietly been a strong year for bitcoin, writes Insider's Phil Rosen. After a dreadful 2022 culminating in the downfall of FTX and the aforementioned SBF, bitcoin has been on the up. While there was plenty of fallout from FTX's bankruptcy, the price of bitcoin has steadily climbed this year. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: —, NYU Langone, Sam Bankman, Bitcoin, bitcoin, Phil Rosen, FTX, hasn't, It's, Roubini, Doom, Noah Sheildlower, Gary Gensler, it's, Ken Griffin, Goldman Sachs, Paul Sakuma Andreessen Horowitz, Maryna, Peter Thiel, Trump, couldn't, Thiel, he's, Diplo —, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, NYU, BlackRock, Atlas, SEC, JPMorgan, Hudson Global, Today Locations: Delaware, India, Japan, Soho, New York City, San Diego, London, New York

☆ 'Dr. Doom' Nouriel Roubini has said crypto is 'totally corrupt.' Now he's launching his own token.
▼ + stars: | 2023-11-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

"Dr. Doom" Nouriel Roubini is launching a crypto token after years of bashing the crypto industry. The token will be pegged to investments Roubini has touted in the past, including gold and other commodities. Roubini has been a vocal crypto critic, previously calling the industry "totally corrupt." Now, his asset management firm is creating its own crypto token. And he's warned of some form of disaster for the US economy for most of the past two decades.

Persons: Doom, —, Roubini, he's, Atlas, That's Organizations: Service, US Dollar Atlas Capital

☆ The Fed and war in the Middle East are the 2 things that could push the US economy into a recession, 'Dr. Doom' economist Nouriel Roubini says
▼ + stars: | 2023-11-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The US economy still faces two risks that could push it into a recession, Nouriel Roubini warned. AdvertisementAdvertisementThe US is facing two risks that could push the economy into a recession, according to economist Nouriel Roubini. That will cause the Fed to push interest rates higher, a move that could overtighten financial conditions and push the US into a recession, Roubini warned. Meanwhile, bond yields could plunge as investors flock to safe-haven assets like US Treasurys, Roubini warned. Other economists have also warned of recession risks, despite the resilience of the economy and the stock market so far this year.

Persons: Roubini, Doom, —, Nouriel Roubini Organizations: Service, Fox Business, Fed, Societe Generale Locations: Israel, Iran

☆ Why immigration is a net positive for advanced economies: Nouriel Roubini
▼ + stars: | 2023-10-24 | by ( Lindsey Jacobson | Mark Licea | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy immigration is a net positive for advanced economies: Nouriel RoubiniThe U.S. will continue to benefit from immigration, says New York University Professor Emeritus of Economics and International Business Nouriel Roubini. In this episode of "The Bottom Line," Roubini explains how strict but open immigration policy will increase growth and innovation, why economists think about the singularity and why net zero claims are inaccurate.

Persons: Roubini Organizations: New York University, Economics Locations: U.S

☆ Immigration is a net positive for the U.S. economy, the singularity raises worker concerns and net zero claims are falling short: Nouriel Roubini
▼ + stars: | 2023-10-24 | by ( Mark Licea | ) www.cnbc.com time to read: +2 min

"Many people are against immigration because they fear that it's going to lead to job losses or income losses. Roubini explained that the future of technology and the singularity are concerning as artificial intelligence is integrated into the workplace. Another "megathreat" Roubini discussed is global warming and how companies claiming to reach net zero are behind. Unfortunately, many of the commitments to net zero done by many businesses or even financial institutions are more like corporate PR rather than real plans. Everybody says we're going to reach net zero, but there's a lot of greenwashing and green wishing rather than real specific plans.

Persons: Roubini Organizations: New York University, Economics, CNBC, Apple, Social Security Locations: America

☆ 'Mind-blowing' US debt binge amid high interest rates is threatening financial stability, Larry McDonald says
▼ + stars: | 2023-08-25 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

The US government has spent some $28 trillion since 2020, causing its debt to surge to a record of almost $33 trillion. The spending binge has created a "mind-blowing hole" in the nation's public finances, according to Larry McDonald. Earlier this year, experts like Ray Dalio and Nouriel Roubini have also warned of the risk of a debt crisis in the US. Fiscal spending has skyrocketed since the pandemic and shows little sign of slowing — and this has created a "mind-blowing hole" in the nation's finances, according to markets guru Larry McDonald. "Another way to improve debt to GDP ratios is through hidden debt reduction i.e.

Persons: Larry McDonald, Ray Dalio, Nouriel, that's, It's, McDonald isn't, Nouriel Roubini, —, McDonald Organizations: Service, Fitch, Federal Reserve 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

☆ America's consumer-debt stress is mounting - mortgage rates top 7%, credit-card liabilities hit $1 trillion, and now auto-loan defaults are on the rise
▼ + stars: | 2023-08-22 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

Delinquencies on auto loans are rising again – and this could spell trouble for American consumers. Defaults on car loans have risen above pre-pandemic levels to over 2%, per the FDIC. "The trends in consumer loan performance could deteriorate in 2023 if the labor market or economic conditions soften," the report warned. "The concerning asset quality trends in auto loans may worsen if auto prices normalize." US consumer credit-card debt topped $1 trillion last quarter for the first time ever, according to Fed data.

Persons: –, Ray Dalio Organizations: Federal Reserve, Service, Federal Deposit Insurance Locations: Wall, Silicon, delinquencies

☆ President Biden says China's economy is a 'ticking time bomb' amid growth and demographic issues
▼ + stars: | 2023-08-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

China's economy is plagued with problems and is a "ticking time bomb," President Biden said. The president pointed to sluggish growth and high unemployment in the nation. At a Utah fundraiser on Wednesday, the president pointed to various problems plaguing China's economy, including the country's weak growth prospects and high unemployment rate. Meanwhile, China's youth unemployment rate notched a record 21% in July, due to a lack of high-skilled and high-paying jobs in the nation. That could put US-China relations on "collision course" that ends up weighing on the global economy, according to "Dr. Doom" economist Nouriel Roubini.

Persons: Biden, Joe Biden, They've, That's, Doom, Nouriel Roubini Organizations: Service, Reuters, Group Locations: China, Wall, Silicon, Utah, Beijing, Taiwan

☆ Nouriel Roubini says the idea that BRICS countries will create a new world order is wrong as they are a 'mishmash' of systems
▼ + stars: | 2023-07-06 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The BRICS bloc is challenged by its own mixture of political and economic types, Nouriel Roubini said. "The idea that the BRICS are going to take over the world turned out not to be right." "The idea that the BRICS are going to take over the world turned out not to be right," Roubini said. "This BRICS is a bit of a mishmash that, by itself, has very different countries: economically, socially, politically, and geopolitically," Roubini said. Meanwhile, a rival currency may provide protection from Western sanctions, but by itself isn't sufficient for growth, he added.

Persons: Roubini, —, Nouriel Roubini, Mikhail Zygar, Vladimir Putin Organizations: Service, Argentina Locations: India, Brazil, Russia, China, South Africa, Ukraine

☆ All this AI hype could be distracting us from serious economic threats in the US
▼ + stars: | 2023-06-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Moving forward, we'll be highlighting the latest markets news in our daily flagship newsletter, Insider Today — be sure to sign up. The excitement around ChatGPT, AI, and related tech stocks is old news now, but Wall Street can't stop talking about it. Elon Musk, Nouriel Roubini, and a chorus of Wall Street firms have issued dire warnings. The country's slowing trade, weak industrial production numbers, and piling debt all ultimately present problems for Wall Street, which may be catching on to the risk. What do you see as the connection between economic troubles and AI hype?

Persons: Phil Rosen, —, It's, Pepper, Paco Freire, that's, Zahra Tayeb, Elon Musk, Roubini, Kelvin Wong, Angela Weiss, Wagner, Vladimir Putin, Gary Black's, Goldman Sachs, Morgan Stanley's Adam Jonas, Jason Ma, Jack Sommers Organizations: Getty, Nvidia, Federal, Street, Wall, Nasdaq, Carnival plc, Harvard, Elon Locations: New York, China, America, Los Angeles, London

☆ 'Dr. Doom' Nouriel Roubini says the US is bound for recession - thanks to high interest rates, sticky inflation and a credit crunch
▼ + stars: | 2023-06-15 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

The NYU professor said chances of a hard landing are higher as a combo of factors punishes the US. These include higher interest rates, sticky inflation, and a credit squeeze, Roubini said. Doom', doubled down on dire warnings about the US, saying the nation is headed for a recession as a combo of higher interest rates, sticky inflation, and a credit squeeze barrel the economy. That's due to concerns about sticky inflation – a market condition where prices remain resistant to change. Whether that recession is going to be short and shallow as opposed to more severe depends on many factors," Roubini said.

Persons: Doom, Roubini, —, Nouriel Roubini, it's, China doesn't bode Organizations: Service, Yahoo Finance, Federal Reserve Locations: China

☆ Investors are losing hope for a Fed pause and bracing for another interest-rate hike instead. Here's what 8 experts have predicted.
▼ + stars: | 2023-05-31 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +6 min

Investors are losing hope that the Federal Reserve will pause its interest-rate hikes in June. For example, several market experts have warned the commercial real estate industry is at risk if the Fed keeps raising borrowing costs. "But I do think it's possible they're going to raise a little more. Ed Yardeni, market veteran"The market has been remarkably resilient, mostly because the economy has been remarkably resilient," Yardeni said in a CNBC interview. "So I think they're where they want to be – and I think they're going to keep it here."

Persons: They're, —, Mohamed El, David Solomon, Goldman Sachs, Solomon, It's, Jamie Dimon, Dimon, Ed Yardeni, Yardeni, Doom, Roubini, Mark Zandi, Zandi, Mark Nash, Nash Organizations: Federal, Service, Bank, Signature Bank, First Republic, Fed, Erian, Allianz, CNBC's, JPMorgan, CNBC, Bloomberg, NYU Stern, Jupiter Asset Management

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