The waterland just keeps rising, and we're not sure actually when things will break. Is there a trigger that you're looking for, or is it unpredictable? There are many triggers. You have to look at the balance sheets and the P&Ls of individual sectors. So suppose that we're going to have a recession right now. For housing and corporate, your income is falling. Housing is because falling real wages and eventually unemployment for firms.
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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