Nouriel Roubini: 2020 Global Market Outlook

Published on
January 3rd, 2020
Duration
67 minutes


Nouriel Roubini: 2020 Global Market Outlook

The Interview ·
Featuring Dr. Nouriel Roubini

Published on: January 3rd, 2020 • Duration: 67 minutes

Famed economist Dr. Nouriel Roubini sits down with Real Vision's Ash Bennington to discuss the outlook for markets and the global economy in 2020 — including his prescient insight on the risks of war with Iran and the potential for a worldwide energy shock caused by conflict in the Middle East. Roubini also explores global growth, US equities & fixed income, The Fed and global central banks, and the tail risks of China trade, politics, and AI. Filmed on December 10, 2019 in New York.

Comments

Transcript

  • AK
    Ado K.
    4 January 2020 @ 02:28
    "we need to tax does who are more successful to help those who are left behind" Perhaps I was raised differently then most people but when I was a young boy my parents told me that if I took something from someone without asking for permission it was stealing, and that was wrong to do. My parents never told me "but if you work for the IRS it is perfectly fine to take whatever you want from whoever you want". I genuinely believe collectivists are like a test to see how much of their pure stupidity you can take before loosing it. It requires a huge amount of "zen" to be able to listen to a full 67 minutes of Nouriel the Keynesian collectivist. Taxation is theft is as much of an opinion as gravity is real, the only way you could disagree with it is if you have completely lost cognitive awareness.
    • AC
      Andrew C.
      5 January 2020 @ 04:51
      Taxes built the roads and other infrastructure that Google, Exxon and McDonalds use. I am fascinated everyone wants zero taxes..... What then? No police, no roads, no laws?
    • DS
      David S.
      5 January 2020 @ 06:38
      Marie Antoinette was at least ignorant of condition that brought about the French Revolution. You may choose not to address these issues same issues today. It will be resolved peacefully or not. This is not just a US issue. It will be faced by every nation on earth. Lucky for me, I am old. DLS
    • AK
      Ado K.
      5 January 2020 @ 22:17
      There were roads before taxes, and roads would be built without taxes. Since there is a need for a road someone will build it and charge a fee for you to drive on it. It is kind of like asking "who is going to provide us with milk if the government does not".
    • JS
      Johannes S.
      6 January 2020 @ 01:55
      There are numerous common goods that will not be provided by the market alone. Taxes in measure are needed in any society worth living in for everyone. “Taxation is theft” puts you as much in a extremist corner as “expropriation without compensation” on the other side of the spectrum.
    • UJ
      Ulf J.
      6 January 2020 @ 17:03
      I agree roads would have been built without government and taxes, but you still have to pay for the roads. but who does it most cost-effective? I guess many will say the free market, one thing is for sure thisday government is to big and corrupt.
    • JC
      Jason C.
      7 January 2020 @ 03:25
      This kind of extreme libertarian ideology always reminds me of this video of the 2016 Libertarian Presidential Debate https://www.youtube.com/watch?v=ZITP93pqtdQ I understand the fear of the majority stealing your wealth at the ballot box, but the reality is that if they feel they've been left behind that is exactly what they will do. If you don't like it either, then we should be spending more time thinking of better solutions for their plight instead of complaining that they'd rather steal than starve. Unless, I suppose, you've stocked up on weapons and a bunker.
    • AL
      Aleksey L.
      14 January 2020 @ 22:26
      china has private roads, and about 40% the amount that the US has, US also started out with private tolled roads, look at california, tons of money but so much corruption, can't even fix their roads in San Francisco and no investment into public infrastructure, taxes would be good if people did good, but, not everyone does what you think they should do..
    • JK
      Jay K.
      7 February 2020 @ 01:08
      If you don't want to pay taxes go live in Antarctica. Leave and don't come back.
  • FG
    Flavio G.
    18 January 2020 @ 16:04
    What does Roubini mean by US still being an oil "net importer". Does he read the news? https://www.ft.com/content/9cbba7b0-12dd-11ea-a7e6-62bf4f9e548a
    • DS
      David S.
      26 January 2020 @ 20:41
      Please look at the transcript. "Secondly, even in the United States, we're a net steel and net energy importer. We're not yet a net energy exporter. So the overall impact of an oil shock is negative." We always have to be careful to be apples to apples. DLS
  • SP
    Scott P.
    6 January 2020 @ 06:43
    I have no time for nouriel, the way he carries on in Bitcoin debates is disgraceful.
    • JO
      Johnny O.
      6 January 2020 @ 08:21
      Indeed. Difficult to redeem this lot, where he throws in even the mythical "white supremacists". Apparently he was competing with Krugman for worst economist when he spoke on mobile phones too: https://www.zerohedge.com/news/2018-10-13/mother-all-bubbles-roubini-bashes-bitcoin-blockchain-libertarians-misses-big
    • JO
      Johnny O.
      6 January 2020 @ 08:30
      Wish I could edit that comment. The mobile phone thing was an analogy, not a quote.
    • DS
      David S.
      6 January 2020 @ 18:49
      With the wealth of information presented in this video, it is not surprising that one may disagree with one or several thoughts. To eliminate all opinions based on one opinion reduces your understanding of the markets. DLS
    • SP
      Scott P.
      8 January 2020 @ 23:37
      For me it's not his opinion on Bitcoin that makes me throw out the others. It's the way he completely berates and ignores other speakers. He is completely closed minded and has no respect or time for people who see's things a different way or seek to inform him. I can't trust that what he says on anything else is anything other than unbiased closed minded BS.
    • FG
      Flavio G.
      17 January 2020 @ 09:32
      I'm on Roubini's side concerning cryptocurrencies: most are either worthless or scams.
    • SP
      Scott P.
      23 January 2020 @ 08:34
      I agree most are worthless of scams. Not Bitcoin however, it will soon be the hardest money in history.
  • JL
    Johnny L.
    6 January 2020 @ 14:18
    Every 3% GDP the US had came from hurricane and wildfire rebuilds followed by trade war stocking. Q4 GDP could be 1% plus/minus. more storms. more trade war prep) how in the hell is getting to a 3% GDP run?
    • DS
      David S.
      20 January 2020 @ 19:26
      Some form of MMT. DLS
  • MW
    M W.
    5 January 2020 @ 21:46
    I can not stand the guy :(
    • DS
      David S.
      6 January 2020 @ 18:59
      The question is can you learn from a brilliant person you can not stand? The answer should be yes! Personally I loved the presentation and find Dr. Roubini to be a great source of market information and wisdom. DLS
    • FG
      Flavio G.
      17 January 2020 @ 09:34
      Indeed, he is a bit arrogant, but I'm ok with that. The ones I can't stand are the useless arrogants. This is not the case. Agree with David S.
  • rw
    rory w.
    5 January 2020 @ 18:42
    He brought up Karl Marx to regard income inequality..... You think income equality would be so wide if our interest rates were normalized or if they were at 5000 year lows? All of the social issues we have today cannot be blamed on capitalism no more than one can blame a destroying for breaking a marriage.
    • DS
      David S.
      14 January 2020 @ 02:42
      The house of cards will come tumbling down when rates are normalized. I am ready, not sure if the market could take it. DLS
  • DS
    David S.
    12 January 2020 @ 01:26
    I just listened to Mr. Roubini's interview for the third time. Each was well worth the time. Thank you again Dr. Roubini for taking the time to do this interview. DLS
  • MC
    Mike C.
    3 January 2020 @ 17:42
    "prescient insight" = vitriol + broken clock right twice a day
    • DS
      David S.
      9 January 2020 @ 02:52
      Non sequitur. DLS
  • AW
    Andrew W.
    5 January 2020 @ 22:29
    Typical die-hard Keynesian who can't accept that central banks are the cause of the wealth inequality today and thinks that taxes are the answer.
    • DS
      David S.
      9 January 2020 @ 02:46
      In a republic we are the cause. DLS
  • OD
    Orin D.
    8 January 2020 @ 20:10
    Great interview guest
  • MG
    Michael G.
    7 January 2020 @ 17:52
    Like the itv very much but the video stops with around 20 minutes left.
  • JW
    James W.
    7 January 2020 @ 03:50
    Just me, or are we regularly getting server performance issues with RV? I stream media constantly on my laptop, and this is the only site where I'm constantly seeing hangs of a few seconds throughout the vid.
    • M.
      Milton .. | Founder
      7 January 2020 @ 10:34
      Streaming connections are very sensitive. Over time I learnt a few tips and tricks that usually work so I'll send you a message in a bit. M
  • AP
    Adam P.
    3 January 2020 @ 18:51
    https://www.businessinsider.com/roubini-the-mother-of-all-asset-bubbles-will-burst-in-2016-2014-12
    • JH
      Johannes H.
      5 January 2020 @ 18:57
      "Famous economist predicts 53 of the last 4 crashes"
    • CB
      C B.
      5 January 2020 @ 22:10
      Nouriel has also been named an "Armageddonist" by JP Morgan, who tracked his recession calls and found following his advice would have destroyed 60% of your net worth. See: https://am.jpmorgan.com/gi/getdoc/1383648210719
    • DS
      David S.
      6 January 2020 @ 19:05
      C B. Is it possible that JP Morgan had a dog in that fight? Dr. Roubini certainly looks successful. I am sure that he followed his own advice and changed when conditions changed. DLS
  • JK
    Josh K.
    6 January 2020 @ 04:52
    Hard to hear, but love listening to this guys mind. Thx
  • NT
    Nicholas T.
    5 January 2020 @ 13:54
    Excellent information delivered by a man who can connect the dots between macro thinking and so many different subject areas that can impact economies. That's why I find his opinions so convincing. He's thought of everything. Rising inequality always eventually gets solved. The only question is how.
  • JH
    Jesse H.
    4 January 2020 @ 01:52
    I normally am very interested and engaged with Mr. Roubini, but found this interview lacking in many ways. Also, many of his points and much of his reasoning about economic events was simply flat-out wrong, based on following the likes of world-class, independently minded investors here and on FinTwit. This was disappointing. Cheers.
    • DS
      David S.
      5 January 2020 @ 06:23
      Please name some issues so we can follow your logic. DLS
  • TS
    Taranvir S.
    4 January 2020 @ 08:32
    Everyone loves to use the word liquidity so freely and just about in any question about the markets lol
    • JF
      Jack F.
      4 January 2020 @ 17:54
      So true haha
    • TR
      Thomas R.
      4 January 2020 @ 20:40
      could be a contrarian indicator :-)
    • DS
      David S.
      4 January 2020 @ 21:02
      Dr. Roubini used the term liquidity five times in a 67-minute interview. Each time it is well used as defined. Liquidity is the defining essence of any financial market. DLS
  • DS
    David S.
    4 January 2020 @ 20:58
    Dr. Roubini reveled a major liquidity trap that needs to be transparently addressed by the Fed – “… a number of shadow banks, including hedge funds, have been using the repo market as a way of borrowing money, as a way of then going into a variety of carry trades, borrow short low to make risky investments.” This looks like a great topic for a presentation by one of RVTV Fed watchers - Who should be able to access the Fed's repo market? DLS
  • GS
    Greg S.
    4 January 2020 @ 19:57
    Great point; We need to make a decision as a society between protecting unproductive jobs or protect workers. If we provide better social safety nets it allows transitions into more productive industries. A perfect is example is trying to save the coal industry while rejecting renewable energy opportunities. Why do some politicians in power believe propping up dying industries is the right approach? This is legal bribery in motion and not good for the long term competitiveness of our country IMO.
  • ID
    Igor D.
    3 January 2020 @ 13:28
    Smart but boring to listen to. Stick to writing.
    • DS
      David S.
      3 January 2020 @ 21:36
      Would you prefer dumb and engaging? DLS
    • ID
      Igor D.
      3 January 2020 @ 22:41
      I’d prefer engaging. Dumb wouldn’t be on RV.
    • DS
      David S.
      4 January 2020 @ 01:29
      Good comment Igor. DLS
    • TH
      Truman H.
      4 January 2020 @ 19:02
      Performing ability and charisma, as a successful standup comedian or opera singer has, are different skills from financial/economic expertise. Maybe some folks who have the latter without the former are still worth a listen...
  • PU
    Peter U.
    4 January 2020 @ 11:12
    Excellent
  • DS
    David S.
    3 January 2020 @ 21:30
    Excellent interview. This was about as positive and practical as anyone could be with the current state of the market. Thank you Dr. Roubini for your time and opinions. I hope to see you on RVTV again during the year. DLS
  • GC
    George C.
    3 January 2020 @ 12:16
    Nothing new or uniquely insightful here.
    • JF
      Jack F.
      3 January 2020 @ 15:43
      Could not disagree more. China, Iran, trade tension, growth slowdown, political risk, oils shocks, money markets... this guy knows the data and has real insight.
    • DS
      David S.
      3 January 2020 @ 21:21
      I agree with Jack F. Mr. Roubini did a great job. DLS
  • JH
    John H.
    3 January 2020 @ 20:01
    Nice call on Iran.
  • T
    Thomas .
    3 January 2020 @ 20:00
    Excellent interview.
  • TT
    Trenton T.
    3 January 2020 @ 14:04
    Release coincident with outset of possible war . . . Dr Doom indeed.
    • DJ
      D J.
      3 January 2020 @ 18:37
      Haha, such an apt comment.