MEGATHREATS: 'Dr. Doom' Nouriel Roubini's Scariest Prediction
The Julia La Roche Show, Released on 12/27/22
Dr. Nouriel Roubini (@nouriel), Professor Emeritus of Economics at New York University's Stern School of Business, joins Julia La Roche on episode 42 to discuss his newest book, MegaThreats: Ten Dangerous Trends That Imperil Our Future, and How to Survive Them. Roubini, known as "Dr. Doom" due to his tendency to make pessimistic predictions, warned of the 2008 housing crisis and impending recession, but it was too late. Roubini is now making another prediction that is even more alarming and should not be overlooked. The world is facing a multitude of interconnected threats, referred to as Megathreats, that have the potential to cause widespread disaster. According to Roubini, these Megathreats are all connected and threaten not only our jobs, income, savings, and wealth but also our health, the planet's health, and even our species' survival. Megathreats include the worst debt crisis the world has ever seen, governments pumping out too much money, borders that are blocked to workers and shipments of goods, the rise of a new superpower competition between China and the U.S., the effects of climate change on heavily populated cities, and more. Roubini says we're "sleepwalking into disaster," and this book is a "wake-up call." Time is of the essence in addressing these issues and attempting to prevent their adverse outcomes
0:00 Roubini's new book2:58 Connecting the dots of 10 Megathreats4:00 World faces the biggest test since WWII5:50 Mother of all debt crises11:00 A perfect storm18:00 Can we go back to 2% inflation without a hard landing?19:30 Debate is no longer a soft or hard landing20:42 Not going to be a short and shallow recession23:42 Factors that could lead to a hard landing24:00 Central banks are going to blink24:45 Demographic time bomb28:50 Intergenerational conflict between young and old31:40 AI as a megathreat35:14 AI will usher in a massive increase in income and wealth inequality36:00 The trouble with UBI39:00 Threat to our species41:00 ChatGPT41:50 Roubini's advice to young people46:27 Public enemy No. 1 of crypto since 201749:40 Crypto is 'the biggest financial fraud in human history'51:58 Megathreat of financial instability54:40 US dollar status as the global reserve currency56:00 Divided world58:00 De-dollarization, rise in gold1:00:31 Do you want to own gold right now?1:03:00 What to own in this scenario?1:06:38 Global pandemics1:11:13 Things Roubini never used to worry about1:13:05 World looks more like the period between 1914 in 1941:15:20 Sleepwalking into disaster1:19:00 How do we survive the Megathreats?1:21:20 Technology is the solution1:23:00 Parting thoughts
Nouriel Roubini is the CEO at Roubini Macro Associates, a professor at NYU's Stern School of Business, and Chairman of Roubini Global Economics. He was Senior Economist for International Affairs in the White House's Council of Economic Advisers during the Clinton Administration. He has worked for the International Monetary Fund, the US Federal Reserve, and the World Bank. His latest book is MegaThreats: Ten Dangerous Trends That Imperil Our Future, And How to Survive Them.
MEGATHREATS: 'Dr. Doom' Nouriel Roubini's Scariest Prediction added by Herman James on 12/27/2022View all posts by Herman James ?+'