Is the world's economy heading towards a decade of depression?

[Nak Khid]

Nouriel Roubini (born March 29, 1958) is an American economist.He teaches at New York University's Stern School of Business and is chairman of Roubini Macro Associates LLC, an economic consultancy firm.
 Roubini is known as Dr Doom for predicting the global financial crisis of 2008 years before it happened. Today Roubini sees a confluence of factors that could lead to a decade of instability around the world, as companies are forced to spend less on labour costs, and people get stuck in the "gig economy", without formal employment or benefits. Roubini said that rising stock market indices are not necessarily a good sign for the economy at large; rather, "What's good for Wall Street is bad for Main Street".

After receiving a BA in political economics at Bocconi University, Milan and a doctorate in international economics at Harvard University, Roubini became an academic at Yale and a visiting researcher/advisor at the International Monetary Fund (IMF), the Federal Reserve, World Bank, and Bank of Israel. Much of his early research focused on emerging markets. During the administration of President Bill Clinton, he was a senior economist for the Council of Economic Advisers, later moving to the United States Treasury Department as a senior adviser to Timothy Geithner, who was Treasury Secretary under Barack Obama.

 

[commie]

Roubini is generally worth listening to. But can you expect AJ to provide a useful context to what he says?

More to the point, have you examined the reason why you are attracted to this video or indeed this topic? Are you honestly trying to inform yourself about economics (what books have you read) or are you looking for validation of your beliefs or for something to legitimize of your feelings?

[Nak Khid]

30 minutes ago, commie said:

Roubini is generally worth listening to. But can you expect AJ to provide a useful context to what he says?

More to the point, have you examined the reason why you are attracted to this video or indeed this topic? Are you honestly trying to inform yourself about economics (what books have you read) or are you looking for validation of your beliefs or for something to legitimize of your feelings?

Did you watch the video? 

[commie]

Why would I watch the video? It's simply Roubini on AJ, right? Do tell if there's something else worth watching in it. Is Roubini saying anything new for instance?

[Nak Khid]

1 hour ago, commie said:

Why would I watch the video? It's simply Roubini on AJ, right? Do tell if there's something else worth watching in it. Is Roubini saying anything new for instance?

why are you here? 

[JosephKnecht]

Not a depression but stagflation. 

There will be higher inflation coupled with stagnation of total economic output. 

[Nak Khid]

5 hours ago, JosephKnecht said:

Not a depression but stagflation. 

There will be higher inflation coupled with stagnation of total economic output. 

 

[Heart of Space]

I've read some of what Roubini has to say and he's the typical doomer economist.  There's a handful of them out there, most of them will try to get you to buy gold to hedge against the system and are always predicting the collapse of the current economic paradigm.  These sorts of views make headlines.  You'll usually see these sorts of economists predict collapse for 20 years straight and then as soon as recession strikes they'll scream "See I was right the whole time!"  

That being said, any honest analysis of what's happening right now says that our economic future is not very bright.  Speaking from the perspective of the US, economically we are drastically overdue for a correction of our horrific income inequality.  Greed in the form of over leveraging due to lack of regulation thanks to our political process which is corrupted by money may very well topple our society.  We needed a Bernie Sanders type president 20 years ago.  Biden will marginally move things in the right direction, but economically this won't be enough.  A lot of people are going to go through tough times.   

[Nak Khid]

16 hours ago, Heart of Space said:

I've read some of what Roubini has to say and he's the typical doomer economist.  There's a handful of them out there, most of them will try to get you to buy gold to hedge against the system and are always predicting the collapse of the current economic paradigm.  

He has more credentials that the typical doom economist on youtube who is promoting gold 

My the way what is your opinion of having a certain percentage of gold in savings
- and can it be digital gold or does it have to be physical? 

Edited July 19, 2020 by Nak Khid

[Heart of Space]

2 minutes ago, Nak Khid said:

I has more credential that the typical doom economist on youtube who is promoting gold 

My the way what is your opinion of having a certain percentage of gold in savings
- and can it be digital gold or does it have to be physical? 

If you bought gold 5 years ago you'd be pretty happy.  If you bought gold now, I'd say you'd be looking at some solid profit over the next year to 18 months, but I wouldn't hold on to it forever.  Physical gold is unnecessary, personally I'd just put my money in an ETF that tracks the value of gold.  Avoid any financial advice from people who tell you to hold actual physical gold, they're usually cooks. 

Another thing to look at as industry picks up is silver.  Silver tends to go on pretty big rallies after recessions or periods of slow economic growth.  And there's a lot of good reasons to believe that silver will go up in value significantly in the long term.  

Lastly, do not make any decisions with your money based on what I'm saying.  Do your own research and own your own decisions if you decide to buy into anything.  

[Nak Khid]

what percentage of your savings is gold? 

Do you consider it just an investment or do you think it's also a hedge for financial collapse. Warren Buffett isn't a fan of gold.

Edited July 19, 2020 by Nak Khid

[Heart of Space]

9 minutes ago, Nak Khid said:

what percentage of your savings is gold? 

Do you consider it just an investment or do you think it's also a hedge for financial collapse. Warren Buffett isn't a fan of gold.

I can't tell you that.  Honestly, if you're uncertain, just keep your wealth in cash right now, that's fine too.  Save a lot and spend little.  That's probably the best and most simple advice for normal people right now.  

Edited July 19, 2020 by Heart of Space