Read Crisis Economics: A Crash Course in the Future of Finance by Nouriel Roubini Free Online
Book Title: Crisis Economics: A Crash Course in the Future of Finance|
The author of the book: Nouriel Roubini
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Reader ratings: 4.7
Edition: Penguin Press
Date of issue: May 11th 2010
ISBN 13: 9781594202506
Format files: PDF
The size of the: 797 KB
Read full description of the books:
I have a terrible affliction. Its like a python coiled around my neck; its trying to squeeze my throat but I can pull on the snake just hard enough to keep from suffocating. Recently, I stopped resisting my reptilian oppressor and that's when I started watching cable news again.
I know cable news will crush my wind pipe and deprive my brain of oxygen, but I get tired from the struggle and give in. And when I give in, I hear the most absurd and illogical assertions from the talking skulls on the screen. Its like watching a 2-D representation of my most intense fever dream.
Thankfully, I have a safe word: "unprecedented". This wonderful word is used incorrectly 99% of the time by cable news journalists. The word means "without precedent" and should be applied to situations where a dragon swallows a skyscraper or the moon splits in half, or, you know, things that have no precedent. It is not a synonym for "unusual". And it is a weirdly popular word on cable news, so it didn't take long to snap out of cable news hypnosis.
Now after an unnecessarily long introduction; my opinion of this book. It was a welcome antidote for the overly simplistic and uncritical analysis presented on cable news networks. I read this book at a time when I wanted to learn more about the systemic nature of the American and global economy. I feel the authors took the time to validate their conclusions with the support and authority of historical fact. I frequently forgot that I was reading a book about economics because I enjoyed the presentation of the author's analysis so much. While I did not agree with all of the author's conclusions, I felt like my oxygen-starved brain received a concentrated dose of the precious gas. The next time I feel that twisted urge to watch cable news, I will reach for another economics book. Maybe that metaphorical python will die from boredom and I'll never again watch cable news. We'll just have to see about that.
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Read information about the authorNouriel Roubini is a Persian American professor of economics at New York University's Stern School of Business and chairman of Roubini Global Economics, an economic consultancy firm.
Roubini's critical economic views have earned him the nicknames "Dr. Doom" and "permabear" in the media. In 2008, Fortune magazine wrote, "In 2005 Roubini said home prices were riding a speculative wave that would soon sink the economy. Back then the professor was called a Cassandra. Now he's a sage". The New York Times notes that he foresaw "homeowners defaulting on mortgages, trillions of dollars of mortgage-backed securities unraveling worldwide and the global financial system shuddering to a halt". In September 2006, he warned a skeptical IMF that "the United States was likely to face a once-in-a-lifetime housing bust, an oil shock, sharply declining consumer confidence, and, ultimately, a deep recession". Nobel laureate Paul Krugman adds that his once "seemingly outlandish" predictions have been matched "or even exceeded by reality."
As Roubini's descriptions of the current economic crisis have proven to be accurate, he is today a major figure in the U.S. and international debate about the economy, and spends much of his time shuttling between meetings with central bank governors and finance ministers in Europe and Asia. He has appeared before the US Congress, the Council on Foreign Relations, and the World Economic Forum at Davos.