Nouriel Roubini Quotes

If one wants to avoid the recurrence of economic crises, one must avoid the expansion of credit that creates the boom and inevitably leads into the slump.

Bubbles have quite a few things in common, but housing bubbles have a spectacular thing in common, and that is every one of them is considered unique and different.

Presidential money is almost like the housing bubble. It's growing at such an astronomical rate, you think it can't get any bigger.

The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.

It's important for the Fed, hard as it is, to attempt to detect asset bubbles while they're forming.

The way you create deflation is you create an asset bubble.

At some point, there will be some other financial crisis. It's in the nature of a capitalist system.

Every serious deflation I've looked at is preceded by an asset bubble, and then it bursts.

Deflation can be particularly dangerous when a financial system is shaky, with household and corporate balance sheets in poor shape and banks undercapitalized and heavily burdened with bad loans.

I don't know what a credit bubble means. I don't even know what a bubble means. These words have become popular. I don't think they have any meaning.

The banking collapse was caused, more than anything, by bad government policy and the total failure of bad regulation, rather than by greed.

What would a loss of confidence in the dollar actually look like? Gold going absolutely nuts.

The euphoria around economic booms often obscures the possibility for a bust, which explains why leaders typically miss the warning signs.

Inflation is not always the main problem, or indeed a problem at all. Sometimes, though rarely, deflation is a more serious threat, and we need to shelve many of the orthodoxies we have held so dear.

Financial crises are an unfortunate but necessary consequence of modern capitalism.

The Federal Reserve - all of them - could be sitting on a barrel of dynamite, and then pouring gasoline on top of it, and then light a cigar with matches, throw the match into the gasoline, and then not notice that there is any danger.

The Nasdaq bubble and crash were followed by the real estate bubble then subprime crash, which led to the unprecedented printing of trillions of dollars in an attempt to prevent a global depression.

Listen, I wish economic growth only went in one direction. It doesn't. There are economic downturns. They're painful, they're harmful, and they hurt families.

From the beginning of time, we've had financial crises. People always blame the banks and for good reason. When you look for the root causes, they're almost always failed government policies.

Between 1857 and 1929, while regulators largely stood idle, the American economy swung through 19 national boom-and-bust gyrations that sometimes threatened to wipe out whole industries within months.

Not every business cycle has a financial crisis. Frequently they do.

In the economy of the cuckoo people that populate central banks, everything is possible. What you have is gigantic bubbles, the NASDAQ in 2000, then the housing bubble and then commodities in 2008 when oil went from $78 to $147 before plunging to $32 within six months.

The global economy is unruly.

Nothing would assure a recession more than a significant drop in housing prices.

I have 13 bankers in my office, and they say that if you go forward with this you will cause the worst financial crisis since World War II.