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Roubini CNN Money, Forbes.com, CNBC, and Bloomberg Interviews at Davos

CNN Money — At the World Economic Forum, economist Nouriel Roubini warns about pitfalls to the economy and calls for more regulation. (Click for Video) [5:13]

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Forbes.com — Davos: Roubini Predictions (Click for Video) [3:14] 

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CNBC — Asset Bubble is Beginning Now (Click for Video and Report) [8:04]

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Bloomberg — Roubini Pessimistic on Euro Area, Calls Spain a Risk (Click for Video and Report)

25 Responses to “Roubini CNN Money, Forbes.com, CNBC, and Bloomberg Interviews at Davos”

PeterJBJanuary 27th, 2010 at 4:46 pm

The signature of a collapsing Nation:January 27th, 2010adminA shocking report from Brookings exposes just how massive America’s poverty problem is. While substantial reductions in poverty were made during the 1990’s, America’s poor have been rocked by the dual economic downturns since 2000.The result is that poverty grew at twice the rate of U.S. population growth from 2000 – 2008, and now encompasses 39.1 million Americans.If one were to expand the definition of poverty to merely ‘poor’ (yet still very poor), then a eye-popping 30% of the nation lives no higher than twice the poverty base line.Brookings: In 2008, 91.6 million people—more than 30 percent of the nation’s population—fell below 200 percent of the federal poverty level. More individuals lived in families with incomes between 100 and 200 percent of poverty line (52.5 million) than below the poverty line (39.1 million) in 2008. Between 2000 and 2008, large suburbs saw the fastest growing low-income populations across community types and the greatest uptick in the share of the population living under 200 percent of poverty.http://mikechamberslive.com/?p=4422Poverty:http://verbewarp.blogspot.com/2005/09/poverty-signature-of-failure.htmlHo hum

Wolf in the WildsJanuary 27th, 2010 at 9:34 pm

So does anyone believes Obama anymore?SOTU was rhetoric and the maths just don’t add up. Are you going to fall for it again? What are you Americans thinking now?

blindmanJanuary 28th, 2010 at 1:45 am

energetics and poverty do not coexist. it takes more thanignorance, apathy and denial to embrace energetics and forsake poverty. this hasme worried.so.”time is a phenomena unigue”, as is language, math and consciousness itself?.a point. (consciousness). implies a space for said point.a space. (consciousness). implies many potential points.many points imply lines of “distance” to connect said pointsin space. distance, measure of line, being a derived, intime and space, non, or other, phenomena. an experience. duality andreflecting organic life as it is founded, energetically, onseparation of points in derived space. as in the developmentof the energetic relations and transfers at the level of exchangetake place, must take place, at a “comfortable distance” from thesource of the energy that drives / supplies the evolution of saidtransfers and developments. the source being antithetic or tooviolent and destructive, too energetic, for.. of the “scale” atwhich “living” energy relations can tolerate. known in time. unique..and lines imply area/s in consciousness. projected into impliedspace and volumes neurologically coded, referencing spherical domains based onpoints at distances, functioning in unigue time and space..but what is the point?.binocular vision dictating bicameral conception in diurnalmotion, phase shift and unigue point timespace. (consciosness)..or something like that….so.”time is a phenomena unigue”, as is language, math and consciousness itself?.a point. (consciousness). implies a space for said point.a space. (consciousness). implies many potential points.many points imply lines of “distance” to connect said pointsin space. distance, measure of line, being a derived, intime and space, non, or other, phenomena. an experience. duality andreflecting organic life as it is founded, energetically, onseparation of points in derived space. as in the developmentof the energetic relations and transfers at the level of exchangetake place, must take place, at a “comfortable distance” from thesource of the energy that drives / supplies the evolution of saidtransfers and developments. the source being antithetic or tooviolent and destructive, too energetic, for.. of the “scale” atwhich “living” energy relations can tolerate. known in time. unique..and lines imply area/s in consciousness. projected into impliedspace and volumes neurologically coded, referencing spherical domains based onpoints at distances, functioning in unigue time and space..but what is the point?.binocular vision dictating bicameral conception in diurnalmotion, phase shift and unigue point timespace. (consciosness)..or something like that..ps.as “state of the unions go” this one spoke a newer language.perhaps new volumes are being explored. perhaps just referencedas cover for the new pork and supreme supplied dripping lifeblood renderings and other sundry exploits and distractions?,perhaps, we may never know, even if someone should tell thesordid story should the details be made available..points and lines, structural design in volumes and and and finish, tocompletion to suit function, then the music, a new voice.or not.? why we love / need the / a future.

Wolf in the WildsJanuary 28th, 2010 at 2:20 am

Everyone should read thishttp://trueslant.com/matttaibbi/2010/01/27/populism-just-like-racism/Matt Tabibi at his best, and hitting the nail squarely on the head with regards to why there should be anger.And I am from the industry.

PeterJBJanuary 28th, 2010 at 2:36 am

perhaps then blindman, space is a constraint as so then infinity?I get your point but is not life just digestion? coagulation? and or constant change where change never changes?If so, then we have a milestone to establish our beachhead and desist in the madness which is currently being imposed upon us, er, by ourselves; that is to say, never lose sight of the fact, that all of us are we.That is, there can be no aliens.So although I do not name “leadership” as parasitical fungoids, it is clear that we do adopt the amoebic principle as our ideological Prime principle – upon which to build “our” civilization and this in a fairly strict adhesion of the analogical rules, and whence becomes to realization, not only scary it is, but a grande milestone; why we love / need the / a future .;-)>Ho hum

Little SaverJanuary 28th, 2010 at 3:15 am

Regulation is necessary to protect society against predatory debt creation, a major cause of the current crisis.Predatory debt creation on a massive scale, like recently witnessed, allows a minority to collect huge short term profits at cost of pushing the entire economy into a disequilibrium that can only result in a major crisis. The lack of regulation permits the creation and use of various predatory debt instruments (debt securitization, CDO, CDS,…).The current policy of not holding debt predators responsible creates a systemic moral hazard, inviting the continuation of the destructive behavior. Emergence and proliferation of “vampire squids” is tolerated and stimulated under these circumstances.For change to happen, those responsible for the mistakes from the past (Bernanke, Greenspan, Geithner, Paulson, banking CEO’s… must bow and leave the scene in favor of actors inclined to handle these problems.More background: The economic case against Bernanke, http://www.debtdeflation.com/blogs/

PeterJBJanuary 28th, 2010 at 3:19 am

Whoops:”Three of America’s largest firm announced firings or signaled them during the last week. Wal-Mart (NYSE:WMT) cut the deepest, which is frightening because it is the most financially healthy company in the world. In a surprise announcement, the world’s largest retailer said it would cut 10% of its Sam’s Club division, which means nearly 12,000 workers will get axed. The news cannot be good for the staggering retail sector. Christmas was weak, but Wall St. assumed that Wal-Mart was doing as well as if not better than its smaller competitors. The Wal-Mart move will give other retail firms “permission” to take fresh looks at their staff levels without the stigma of announcing firings ahead of other large store chains.Xerox (NYSE:XRX) also unexpectedly said it would cut 2,500 people. It did so at the same time as it posted good earnings. That means Xerox believes that it can still wring more productivity from the people it will continue to use. The tech sector is still on a bumpy ride while consumers and IT managers try to decide if they can afford to upgrade to new equipment. The beginning of 2010 could cause a fresh round of reviews of how much blood can be squeezed from the employment pool stone. Large firms that made layoffs last year can now look at four quarters of what those layoffs have done to them or for them financially. If cuts worked once, they might work again.”http://247wallst.com/2010/01/25/signs-of-the-apocalypse-the-return-of-the-layoff/Ho hum

PeterJBJanuary 28th, 2010 at 3:25 am

And, :”Reports from banks and investments houses have now become a common affair in the region, and while details vary, most are currently predicting a dismal outlook for the future.EFG-Hermes latest report is no different: “We expect a sharp deceleration in private consumption growth, lower tourist arrivals and lower retail spending, resulting in an overall weaker economic outlook [for Dubai],” it says.The report also quantifies the exodus of expatriates from the emirate that media reports have alluded to: “We forecast negative net population growth in Dubai in 2009 with the population declining to 1.49 million from 1.79 million in 2008 (17 percent decline).”The reports attributes the fall to a sharp (30 percent) drop in the number of construction workers and all real-estate related and financial services sectors.”http://www.kippreport.com/2009/03/everything%E2%80%99s-falling-property-prices-and-people/Ho hum

@ Guest,I was told to say this: China will be our largest opposing partner in the coming years. opposing partner, good one.January 28th, 2010 at 9:34 am

so amp it up..”And besides, the fact that a lot of these guys have made a lot of money recently doesn’t make them “upper class.” They’re the same assholes we all were in high school and college, except that they made some very particular moral choices in adulthood, and became criminals, and have now arranged things so that they’re going to be tough as hell to catch. And when they fall, which a lot of them will… I mean a lot of these guys are ten seconds from losing it all and spending the next ten years working the laundry room at Danbury or pushing shopping carts under the FDR expressway. And they know it. These people aren’t the nobility. They’re people just like us, only stupider and less ashamed of themselves.That’s not a class story. It’s a crime story, and it doesn’t have a damn thing to do with China.”.

@ Guest,I was told to say this: China will be our largest opposing partner in the coming years. opposing partner, good one.January 28th, 2010 at 9:34 am

so amp it up..”And besides, the fact that a lot of these guys have made a lot of money recently doesn’t make them “upper class.” They’re the same assholes we all were in high school and college, except that they made some very particular moral choices in adulthood, and became criminals, and have now arranged things so that they’re going to be tough as hell to catch. And when they fall, which a lot of them will… I mean a lot of these guys are ten seconds from losing it all and spending the next ten years working the laundry room at Danbury or pushing shopping carts under the FDR expressway. And they know it. These people aren’t the nobility. They’re people just like us, only stupider and less ashamed of themselves.That’s not a class story. It’s a crime story, and it doesn’t have a damn thing to do with China.”.

@ Guest,I was told to say this: China will be our largest opposing partner in the coming years. opposing partner, good one.January 28th, 2010 at 9:34 am

so amp it up..”And besides, the fact that a lot of these guys have made a lot of money recently doesn’t make them “upper class.” They’re the same assholes we all were in high school and college, except that they made some very particular moral choices in adulthood, and became criminals, and have now arranged things so that they’re going to be tough as hell to catch. And when they fall, which a lot of them will… I mean a lot of these guys are ten seconds from losing it all and spending the next ten years working the laundry room at Danbury or pushing shopping carts under the FDR expressway. And they know it. These people aren’t the nobility. They’re people just like us, only stupider and less ashamed of themselves.That’s not a class story. It’s a crime story, and it doesn’t have a damn thing to do with China.”.

@ Guest,I was told to say this: China will be our largest opposing partner in the coming years. opposing partner, good one.January 28th, 2010 at 9:34 am

so amp it up..”And besides, the fact that a lot of these guys have made a lot of money recently doesn’t make them “upper class.” They’re the same assholes we all were in high school and college, except that they made some very particular moral choices in adulthood, and became criminals, and have now arranged things so that they’re going to be tough as hell to catch. And when they fall, which a lot of them will… I mean a lot of these guys are ten seconds from losing it all and spending the next ten years working the laundry room at Danbury or pushing shopping carts under the FDR expressway. And they know it. These people aren’t the nobility. They’re people just like us, only stupider and less ashamed of themselves.That’s not a class story. It’s a crime story, and it doesn’t have a damn thing to do with China.”.

@ Guest,I was told to say this: China will be our largest opposing partner in the coming years. opposing partner, good one.January 28th, 2010 at 9:34 am

so amp it up..”And besides, the fact that a lot of these guys have made a lot of money recently doesn’t make them “upper class.” They’re the same assholes we all were in high school and college, except that they made some very particular moral choices in adulthood, and became criminals, and have now arranged things so that they’re going to be tough as hell to catch. And when they fall, which a lot of them will… I mean a lot of these guys are ten seconds from losing it all and spending the next ten years working the laundry room at Danbury or pushing shopping carts under the FDR expressway. And they know it. These people aren’t the nobility. They’re people just like us, only stupider and less ashamed of themselves.That’s not a class story. It’s a crime story, and it doesn’t have a damn thing to do with China.”.

blindmanJanuary 28th, 2010 at 10:08 am

http://www.vanityfair.com/online/politics/2010/01/remembering-maverick-historian-howard-zinn.html* n MemoriamRemembering Maverick Historian Howard Zinnby Vanity FairJanuary 28, 2010, 10:10 AMhowardzinn.jpgHoward Zinn. By PatrickMcMullan.com.Legendary activist Howard Zinn, whose 1980 leftist manifesto A People’s History of the United States challenged young Americans to question the status quo, passed away on Wednesday at age 87. The cause was a heart attack, according to the Boston Globe.Recently Zinn sat down with BigThink.com and said that he wants to be remembered for “introducing a different way of thinking about the world,” and as “somebody who gave people a feeling of hope and power that they didn’t have before.” His legacy will not soon be forgotten.”….

blindmanJanuary 28th, 2010 at 11:40 am

http://www.theswellseason.com/.if the freedom bells ring in a forest and thereis no one there to hear it,do they make a sound?.for some reason “lies” seems to beparticularly beautiful, so i dedicate toour esteemed colleagues in the public sectorwho fashion statements, public, in deep cynicismto mask adherence to forced and controlled impoverishmentat the expense of the body , mind and heart. ( includingother organs and their corresponding beneficial environmentalnutrients.).note. lies only work, confabulations, if the listeneraccepts the flawed conclusions on faith rather than demandingunderstanding. confabulation is the art of transferringthe psycho / emotional future into the psycho / conceptualpresent moment. faith and fear are of speculation and the “future”domain. understanding is of the present domain.the fatal flaw of all cynics is to confabulate. lie using thetruth, but in the wrong domains, politics and law as professionally practiced..or something like that..anyway, nice songs at link. great voices. heart.

blindmanJanuary 28th, 2010 at 1:52 pm

and this..Breaking News AlertThe New York TimesThu, January 28, 2010 — 1:17 PM ET—–J.D. Salinger, Author of ‘The Catcher in the Rye,’ Is Dead at 91J. D. Salinger, who was thought at one time to be the mostimportant American writer to emerge since World War II butwho then turned his back on success and adulation, has diedin Cornish, N.H., where he lived in seclusion for more than50 years, his son told The Associated Press. He was 91.Mr. Salinger’s literary reputation rests on a slender butenormously influential body of published work: the novel “TheCatcher in the Rye,” the collection “Nine Stories” and twocompilations, each with two long stories about the fictionalGlass family: “Franny and Zooey” and “Raise High the RoofBeam, Carpenters and Seymour: An Introduction.”Read More:http://www.nytimes.com?emc=na

GuestJanuary 28th, 2010 at 2:32 pm

The Hate and the QuakePublished on: 1/17/2010 by Sir Hilary BecklesTHE UNIVERSITY OF THE WEST INDIES is in the process of conceiving how best to deliver a major conference on the theme Rethinking And Rebuilding Haiti .I am very keen to provide an input into this exercise because for too long there has been a popular perception that somehow the Haitian nation-building project, launched on January 1, 1804, has failed on account of mismanagement, ineptitude, corruption.Buried beneath the rubble of imperial propaganda, out of both Western Europe and the United States , is the evidence which shows that Haiti ‘s independence was defeated by an aggressive North-Atlantic alliance that could not imagine their world inhabited by a free regime of Africans as representatives of the newly emerging democracy.The evidence is striking, especially in the context of France .The Haitians fought for their freedom and won, as did the Americans fifty years earlier. The Americans declared their independence and crafted an extraordinary constitution that set out a clear message about the value of humanity and the right to freedom, justice, and liberty.In the midst of this brilliant discourse, they chose to retain slavery as the basis of the new nation state. The founding fathers therefore could not see beyond race, as the free state was built on a slavery foundation.The water was poisoned in the well; the Americans went back to the battlefield a century later to resolve the fact that slavery and freedom could not comfortably co-exist in the same place.The French, also, declared freedom, fraternity and equality as the new philosophies of their national transformation and gave the modern world a tremendous progressive boost by so doing.They abolished slavery, but Napoleon Bonaparte could not imagine the republic without slavery and targeted the Haitians for a new, more intense regime of slavery. The British agreed, as did the Dutch, Spanish and Portuguese.All were linked in communion over the 500 000 Blacks in Haiti , the most populous and prosperous Caribbean colony.As the jewel of the Caribbean , they all wanted to get their hands on it. With a massive slave base, the English, French and Dutch salivated over owning it – and the people.The people won a ten-year war, the bloodiest in modern history, and declared their independence. Every other country in the Americas was based on slavery.Haiti was freedom, and proceeded to place in its 1805 Independence Constitution that any person of African descent who arrived on its shores would be declared free, and a citizen of the republic.For the first time since slavery had commenced, Blacks were the subjects of mass freedom and citizenship in a nation.The French refused to recognise Haiti ‘s independence and declared it an illegal pariah state. The Americans, whom the Haitians looked to in solidarity as their mentor in independence, refused to recognise them, and offered solidarity instead to the French. The British, who were negotiating with the French to obtain the ownership title to Haiti , also moved in solidarity, as did every other nation-state the Western world.Haiti was isolated at birth – ostracised and denied access to world trade, finance, and institutional development. It was the most vicious example of national strangulation recorded in modern history.The Cubans, at least, have had Russia , China , and Vietnam . The Haitians were alone from inception. The crumbling began..Then came 1825; the moment of full truth. The republic is celebrating its 21st anniversary. There is national euphoria in the streets of Port-au-Prince .The economy is bankrupt; the political leadership isolated. The cabinet took the decision that the state of affairs could not continue.The country had to find a way to be inserted back into the world economy. The French government was invited to a summit.Officials arrived and told the Haitian government that they were willing to recognise the country as a sovereign nation but it would have to pay compensation and reparation in exchange. The Haitians, with backs to the wall, agreed to pay the French.The French government sent a team of accountants and actuaries into Haiti in order to place a value on all lands, all physical assets, the 500 000 citizens were who formerly enslaved, animals, and all other commercial properties and services.The sums amounted to 150 million gold francs. Haiti was told to pay this reparation to France in return for national recognition.The Haitian government agreed; payments began immediately. Members of the Cabinet were also valued because they had been enslaved people before independence.Thus began the systematic destruction of the Republic of Haiti . The French government bled the nation and rendered it a failed state. It was a merciless exploitation that was designed and guaranteed to collapse the Haitian economy and society.Haiti was forced to pay this sum until 1922 when the last instalment was made. During the long 19th century, the payment to France amounted to up to 70 per cent of the country’s foreign exchange earnings.Jamaica today pays up to 70 per cent in order to service its international and domestic debt. Haiti was crushed by this debt payment. It descended into financial and social chaos.The republic did not stand a chance. France was enriched and it took pleasure from the fact that having been defeated by Haitians on the battlefield, it had won on the field of finance. In the years when the coffee crops failed, or the sugar yield was down, the Haitian government borrowed on the French money market at double the going interest rate in order to repay the French government.When the Americans invaded the country in the early 20th century, one of the reasons offered was to assist the French in collecting its reparations.The collapse of the Haitian nation resides at the feet of France and America , especially. These two nations betrayed, failed, and destroyed the dream that was Haiti; crushed to dust in an effort to destroy the flower of freedom and the seed of justice.Haiti did not fail. It was destroyed by two of the most powerful nations on earth, both of which continue to have a primary interest in its current condition.The sudden quake has come in the aftermath of summers of hate. In many ways the quake has been less destructive than the hate.Human life was snuffed out by the quake, while the hate has been a long and inhumane suffocation – a crime against humanity.During the 2001 UN Conference on Race in Durban , South Africa , strong representation was made to the French government to repay the 150 million francs.The value of this amount was estimated by financial actuaries as US$21 billion. This sum of capital could rebuild Haiti and place it in a position to re-engage the modern world. It was illegally extracted from the Haitian people and should be repaid.It is stolen wealth. In so doing, France could discharge its moral obligation to the Haitian people.For a nation that prides itself in the celebration of modern diplomacy, France , in order to exist with the moral authority of this diplomacy in this post-modern world, should do the just and legal thing.Such an act at the outset of this century would open the door for a sophisticated interface of past and present, and set the Haitian nation free at last.l Sir Hilary Beckles is pro-vice-chancellor and Principal of the Cave Hill Campus, UWI.

Average JaneJanuary 28th, 2010 at 6:59 pm

I heard Verizon is laying off 13,000 or 14,000 people.And another round of under-the-radar layoffs coming soon at your friendly neighborhood IBM (who is happily shipping many upper-level white-collar jobs overseas).

PeterJBJanuary 28th, 2010 at 7:13 pm

Ho hum:…”Fortunately, our Constitution grants the Senate the power to approve or disapprove key government appointments, and over the past 200 plus years this has served many times as an effective check on both executive authority and overly strong lobbies – who usually want their own, unsuitable, person to be kept on the job.Unfortunately, two massive failures of governance at the level of the Senate also spring to mind: first, the strange case of Alan Greenspan, which stretched over nearly two decades; second, Ben Bernanke, reappointed today (Thursday).>”http://www.huffingtonpost.com/simon-johnson/bernankes-reappointment-a_b_441241.htmlKeywords: Colossal | Failure | Governance | Benanke |

economicminorJanuary 28th, 2010 at 9:43 pm

How about the failure, now apparent, of Roberts.What a joke he has made of the Supreme Court. Now a multinational and probably a Sovereign Wealth Fund can spend unlimited funds on trying to affect our elections.Thanks Senators.. You people are worse than a joke. You are destroying the US.

GuestJanuary 29th, 2010 at 7:01 am

i like opposing partner, or partner of partners,or big brother, or owner, …cash cow, repopulation mechanism,scape goat, consumer of natural resources of last resort?i thought it was interesting as “china” is usedas a catch all excuse in western rhetoric andpolitical argumentation to justify many differentthings, deflect too, involving loss of personal empowerment/representation, rights, lossof value or currency, loss of jobs, lack of controlof food safety, product safety, loss of governance bycitizens, loss of concept of justice, you name it.. etc..opposing partner, good one. china is to the u.s. whatthe republican are to the democrats. the fabric ofthe curtain no one is supposed to look behind to seethe man, oz. (the “wizard”).opposing partner in a dysfunctional relationship.that other entity that justifies attempts to sustainwhat is dysfunctional but “profitable”, unsustainable,at home. ?

PeterJBJanuary 29th, 2010 at 7:06 am

You may assume that I am a pessimist but you are wrong,You may assume that I have no idea of that which I post, but you are wrong,You may assume that all things will return to “normal” but you are wrong,You may assume that you have nothing to worry about, but you are wrong,You may assume that we, on this Planet, at this time, know all there is to know, but you are wrong,You may assume what you like but, if your assumption is not founded in physical fact, then you are in all probability, er, wrong.What does this mean?Answer: To be human ‘means’ to be of enquiry and of sentience. To be of human means to be of reason, honour, and integrity.To be human means to be of compassion ans responsibility.To be human means to be of will!To be of human means to seek your function.To be of human means to live your life in enlightenment.To be of human means to care.To be of human means the driver of self.Now, is certainty possible? Indeed! Certainty in terms of physics is not only possible, but available today but,certainty demands that you consider the facts! Certainty demands intellectual work and it ain’t that hard!.objective n subjective = it’s all really easy!Life, real life, is not about being a popular fashion statement!Ho hum,

blindmanJanuary 29th, 2010 at 7:34 am

pjb,i never assumed you were a cynic or a pessimist.just the contrary.i have read the verbe. i get it.but, it is not me that needs to get it.it is a question of larger numbers of people.that 5 % or so.

GuestJanuary 29th, 2010 at 7:49 am

China is not the cause of any of our messes. No, Not at all!They just sell us really cheap stuff at artificially low prices so that they can buy our debt….If China, doesn’t fix the currency problem, we will do it for them!

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