Financial Crisis Debate (6 of 13) Nouriel Roubini

[equsnarnd]

The idea that Washington was a wild west when it came to business tags Roubini as a total nut job. I like what he has to say until he gets his rhetoric twisted around the facts and the reality which leads him to say such idiotic things.

[JohnAdamCulligan]

Roubini offers the best-structured, most effective argument of anyone so far.

[emperor1804]

Hi, I'm making a documentary on the financial crisis for my high school English class and I was wondering if I'd be able to use this clip for it. Thanks.

[DinaStrange]

I love N.

[kirchofflipman]

amazing video, thanks

[bjan87]

Great speech!

[knowledge198405]

Gains are privatized, losses are socialized....i do not know how those words arent bombs dropped on society

[jvittetoe]

God, Schiff would destroy the other side. Roubini makes a weak and scattered attempt.

[humpingbird]

Roubini makes more sense than Schiff imo

[xhamlin]

he just said that banks that know they're getting bailed out are obstructed from risk, and that fed m. policy was too loose. that's what schiff says. however, in the same speech he blames capitalism! it makes zero sense. socialized losses and excess gov't intervention are the antithesis of capitalism!

i can't believe people as "smart" as this cannot see their simple and obvious contradictions.

schiff is the only one who a) makes total sense and b) predicts things with stunning accuracy.

[Zeldovich]

@jvittetoe

Schiff is just an ignorant stock broker. He was right about the real estate market, but he's clueless about macroeconomics. For example, his portfolio in 2008 assumed that there would be decoupling during a financial crisis, even though the US and EU account for around 50$ of world aggregate demand.

[Zeldovich]

@jvittetoe

Naturally, he was dead wrong, and the dollar rose 31% in value during the crisis, with many of his investors being wiped out. He brags that his clients have enjoyed significant appreciation since, but they are still well below early 2008 levels.

[jvittetoe]

@Zeldovich

1. Schiff is an investor, not a short term trader. Real investing is susceptible to these type of corrections.

2. Those investors were only wiped out if they sold. I'm sure they were advised not to as they would have seen significant gains from their lows by now.

3. I love the term 'macro'economics. As if the laws governing 'micro'economics magically change when governments (nothing more than a collection of individuals) enter in to the picture.

[Zeldovich]

@jvittetoe

1.) Would you rather be a long term trader who understood decoupling was a farce and be cash heavy, as Roubini was, or take a 70% hit, like Schiff's investors? .

2.) It's not just the money lost, even for those who are still with him. It's also the money they could have made. This is opportunity cost

3.) Apparently, you're subject to the fallacy of composition, in which case we have no basis for further discussion.

[bonfirejovi]

@Zeldovich Decoupling is happening now and Schiff more than made back the amount lost in 2008 in 2009. Also it wasn't 70% and it only applied to a minority of his clients. Why have you just focussed on one year in the last 10 years? Btw Gold is at $1270!

[Zeldovich]

@bonfirejovi

lol You must have no idea what decoupling means. When the world economy dips and the dollar rises, as has occurred for many decades, it means we still can sneeze without the rest of the world catching a cold.

The US is responsible for 25% of global aggregate demand, so how do you think we can sink without affecting the rest of the world?

That's just dumb.

[buzzadler]

Ultimately, the crisis is a crisis that was generated on purpose by people who control BOTH Wall Street and Washington. I've been studying this for 25 years. JFK, among others, wanted to expose this and was quoted as saying that (paraphrase from memory) " a secret group of elite works behind the scenes with the goal of controlling office of the presidency. i intend on exposing this to the american people when i am done with my term in office." JFK was shot and killed 10 days later.

[dmger14]

nope

[callipun]

Radical egalitarianism is the problem . Government seeks to merge vice and virtue. It gives into shrieks from the third estate pretending it is helping the poor, But in many instances they are poor because of personal irresponsibility  (drugs, laziness, promiscuity, etc.) Therefore Is it fair to force the competent to support the incompetent?