Nouriel Roubini | Aug 15, 2008The New York Times has published a long article/profile about me – available online here – that appears in print on their glossy Sunday Magazine.
The article is a very friendly and sympathetic portrait of my views. I would take issue only with the characterization of myself as being a “perma-bear” or “perpetual pessimist”. For one thing I ended up a realist rather than a pessimist about the current economic and financial crisis; things are turning out even worse than I initially predicted.
Also, while very pessimistic about the U.S. and global financial outlook in the short run, I expect that the global economy can grow at a sustained rate in the medium term and that the integration of China, India and other emerging market economies in the global economy is a very important and positive trend over time. So, yes there is doom and gloom over the short term; but the medium term horizon will be brighter for the global economy if and when the mess of the current financial and economic crisis is fixed. Still, as i have recently argued - and as reported at the end of the New York Times article - this U.S. crisis may be the sign of the beginning of the long run decline of the American Empire.
Two years ago, Nouriel Roubini predicted the current economic crisis. Now he sees things becoming far worse.
BY STEPHEN MIHM
Published: August 15, 2008, New York Times Sunday Magazine