Two-thirds of the world's wealth is in real estate. MGI research estimates global web balance sheet has tripled in past two decades, 50% higher than long run average compared to incomes. Is this a harbinger for the future? Well, the GFC was focused around the real estate bubbles going bust,. But as I said, everybody was bailed out and actually they borrowed even more because interest was so low.
Co-host Michael Chui talks with Nouriel Roubini. Roubini is professor emeritus of economics at the Stern School of Business at New York University, and CEO of Roubini Macro Associates, a global macroeconomics consultancy. He covers topics including the following:
- The “mother of all” debt crises and what to do about it
- Likely future trends in the global balance sheet—the world’s economic health and wealth
- The trajectory of globalization
- Which “megathreat” worries him most
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