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. Nouriel Roubini Read Quote
No country can be complacent in making sure that excessive debt of the household doesn’t create excesses and weaknesses in the financial system. Everything is interconnected. Nouriel Roubini Read Quote
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. Nouriel Roubini Read Quote
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. Nouriel Roubini Read Quote
Celebrity has become a burden. There are more demands on your time. People think it is glamorous to fly places. But it is not – even if you travel business class and stay in wonderful hotels, you end 10,000 miles away from home. Nouriel Roubini Read Quote
What is important to me is that when I write something, people listen to me. I provide my wisdom to people, whether they agree or not. Nouriel Roubini Read Quote
Having spent 10 years studying emerging markets, I know that you have patterns repeated over and over again. A bubble is like a fire which needs oxygen to continue… when you see there is no oxygen, things change. Nouriel Roubini Read Quote
I think it’s true that the 1 Percent or the elite are living in a world of, maybe, excessive privilege, and they don’t fully realize how much pain and suffering, how much anxiety exists out there. Nouriel Roubini Read Quote
