Nouriel Roubini Quotes & Sayings

“If we didn't have greed, market economies wouldn't be as innovative as they are. But in my view, greed has to be contained by the fear of losses, so there has to be a system where, if you take too much risk, you go into bankruptcy. You don't systematically bail out people who take excessive risks.”

“The global financial crisis - missed by most analysts - shows that most forecasters are poor at pricing in economic/financial risks, let alone geopolitical ones.”

“For me, geopolitical issues are becoming more important, because how can you understand economy if you don't understand geopolitics? People think economists just deal with spreadsheets and charts. That's a narrow-minded caricature.”

“What we need to understand is, one, that there are market failures; and two, that there are things like asset bubbles and irrational exuberance. There are periods of booms, bubbles, and manias. These things, if left to themselves, can lead to crashes, to busts, to panics.”

“A currency serves three functions: providing a means of payment, a unit of account and a store of value. Gold may be a store of value for wealth, but it is not a means of payment. You cannot pay for your groceries with it. Nor is it a unit of account. Prices of goods and services, and of financial assets, are not denominated in gold terms.”

“I'm a rock star among geeks, wonks, and nerds.”

“If you worry about financial Armageddon, it is indeed metaphorically the time to stock your bunker with guns, ammunition, canned food and gold bars.”

“I am just a normal human being - I am alive! Why is anyone surprised that I am human? Like many New Yorkers, I have a multifaceted life.”

“I don't personally consider myself Dr. Doom. I call myself Dr. Realist, even though it's less exciting and more boring than being called Dr. Doom. If you are consistently saying 'the world is going to end,' who is going to listen to you?”

“In an extreme credit crunch, leveraged purchases of gold cause forced sales, because any price correction triggers margin calls. As a result, gold can be very volatile - upward and downward - at the peak of a crisis.”