Nouriel Roubini outlines the 10 forces that can cripple the economy: Part 1

Episode 113 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and Roubini Macro Associates Chairman and CEO, Nouriel Roubini.

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Nouriel Roubini, the economist and professor who forecasted the housing collapse of 2008, is back with a new prediction for the global economy.

In his new book, Megathreats: Ten Dangerous Trends That Imperil Our Future, And How to Survive Them, Roubini examines a series of interconnected phenomena that he believes could lead to disaster if left unchecked.

In the first part of this two-part macro special of The Scoop, Roubini lays out the thesis for his new book and explains why he believes the world is on course for the most adverse macroeconomic conditions of the last century.

Key to Roubini’s new theory is the idea that since the threats our society is facing are all interconnected, their combined effects will be far-reaching:  

“Unfortunately, there are severe ‘megathreats’ that imperil not only our jobs, our income, our savings, our wealth, but they imperil the planet, and even peace and prosperity.”

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As an example of how these threats are related, Nouriel explains how if the economy were to enter stagflation, it would be combined with an unprecedented amount of debt:

“We're going to face not only inflation, not only recession, not only stagflation, but a stagflationary debt crisis — what I call in the book, ‘the mother of all debt crises,’ — because the level of private and public debt as a share of GDP is at an all-time high.”

During this episode Chaparro and Roubini also discuss:

  • Why geopolitical tension is likely to increase
  • How AI will impact the labor market
  • When central banks will ‘wimp out’ on raising rates

This episode is brought to you by our sponsors Tron, Ledn

About Tron
TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |

About Ledn
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About Authors

Davis Quinton is the Director of Podcasts at The Block and runs our flagship podcast called The Scoop, hosted by Frank Chaparro. Since joining The Block as an 'intern' in early 2022, he has worked closely with leaders across departments to translate The Block's written content into engaging multimedia formats. He holds a degree in Social Research & Public Policy from New York University in Abu Dhabi and is based in Sydney, Australia.
Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].

Editor

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