Crisis Economics : A Crash

Nouriel Roubini was right …Roubini warned that there was a monstrous bubble in the housing market and that the bursting of that bubble would cause much of the financial system to collapse. And so it has turned out, with even the most seemingly outlandish of Roubini’s predictions matched or even exceeded by reality. How did he do it? For the first decade of his career, Roubini, 51, was a well-regarded but hardly renowned macro economist.

When the Asian financial crisis struck in 1997, however, he created a Web page – the forerunner of his subscription service, RGE Monitor – that became the go-to place for anyone trying to keep up with the flood of news, data and economic analysis …His warnings are based on sophisticated modeling and careful data analysis and have often proved right – not just in general but in detail …Remember, people dismissed Cassandra’s dire prophecies – until they all came true’ – Paul Krugman, “Time” ‘100 Most Influential People in the Word 2009’.