Superb. Would simply love to see an update covering recent developments! It is apparent the unless justice, income equality improvements, and mutual regulations join Trade as part of globalization economy that the result WILL be more and more countries (including inside the "stable" European Union) turning more nationalistic and self focused and away from globalization... a nationalistic philosophy that led to the wars of conquest through the late 19th century and throughout the 20th century.
I would also STRONGLY recommend reading the works of economist Thomas Piketty!
As to "delfon", I would remind the words of Santayana... "Those who do not remember the past are doomed to repeat it".
Nouriel Roubini was one of the few economists who predicted the collapse of the US housing market and its dire consequences for most economies in the world. I found it entertaining to read. Maybe this is because my academic background is in economics, although it is written in easily understood terms by any intelligent reader. It is a book that should be read (in conjunction with many others that have been published about the recent financial crisis, which has yet to be resolved in my opinion) by anybody who is interested in the instability of financial markets. I think it is important to put this crisis in the context of other financial crises because as Carmen Reinhart and Kenneth Rogoff have shown in their influential book This Time Is Different that 800 years of financial crises prove the opposite of the title of their book. (If you are a VPL user you can have access to this important book electronically.)
Not too impressed. Although there are astute observations of what caused the crisis. The writing seems a bit mundane; ie using words like "bum assets", or "dues ex machina' kind of shows lack of phraseological experience. Unlike John Mauldin, he does not get a podium to lecture the congress of the USA.
I think he gets bogged down too much in historicity, and having read others in these regards, I find it a bit tediious to rehash the past, over and over, and he tries to make his point from his explanation....for such an expert, gotta give him only 2 stars....
A masterstroke of brilliance from one of the world's foremost erudite scholars. Roubini clearly demonstrates that what happened in 2008, far from being unpredictable, was in fact inevitable and will happen again. The suggestions made here for reforms are so logical it shows by the very fact that they haven't been inacted just how illogical finance is today. Diabolical indeed, his thoughts on compensation are required reading.
Informative review of the 2008 debt crisis, unfortunately his comments on addressing the current financial problems will likely be ignored and as a result a major sovereign default is possible within a few years
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