• RT @Protos: Mark Cuban and Voyager chief ran crypto ‘Ponzi scheme,’ lawsuit claims Link
    Nouriel Roubini Thu 11 Aug 2022 13:49

    A new lawsuit claims Mark Cuban played a pivotal role in shilling now-defunct Voyager Digital’s unregistered securities, duping investors in a ‘Ponzi scheme’ that lost them billions.

    Voyager was “as close to risk free as you’re gonna get in the crypto universe,” according to Cuban, who campaigned hard to drive traffic to the crypto lender’s platform. The billionaire’s own basketball team, the Dallas Mavericks, even offered $100 in bitcoin to those who download the app and deposit $100 of their own cash.

    Only, Voyager went bankrupt in June. Investors want answers.

    In a proposed securities class action filed on Wednesday, a host of plaintiffs say Voyager Digital chief Stephen Ehrlich and Cuban facilitated and furthered the firm’s “false and misleading promises of reaping large profits in the cryptocurrency market.”

    It claims Voyager’s Earn Program Accounts, or EPAs, were unregistered securities the company...

  • RT @business: The collapse in cryptocurrencies has flooded the market with luxury watches from brands like Rolex and Patek Philippe https:/…
    Nouriel Roubini Thu 11 Aug 2022 13:44
  • RT @concodanomics: Coinbase has gaslighted the authorities two times over in order to list unregulated securities to the general public. Th…
    Nouriel Roubini Thu 11 Aug 2022 13:44
  • RT @ProSyn: Michael Spence thinks that legislation like the #CHIPSAct and the #InflationReductionAct may signal a much-needed shift in US p…
    Nouriel Roubini Thu 11 Aug 2022 13:39
  • RT @emptywheel: No President has ever attempted to have an armed mob assassinate his Vice President either.
    Nouriel Roubini Wed 10 Aug 2022 10:26
  • Very well made points by @Noahpinion on why crypto is junk Link
    Nouriel Roubini Wed 10 Aug 2022 10:21
    In this post, I talk about two common economic mistakes I see in the crypto world: 1. People think cash equals savings. 2. People think scarcity creates value. Neither of these things is true, and here I try to explain why.
  • Don’t rule out a fifth term for the Tories . Labour thinks it is enough to purge the hard left, but the soft left need to go too Link
    Nouriel Roubini Wed 10 Aug 2022 09:51
  • With the global economy squeezed from all sides, the Great Stagflation has arrived. As globalization unravels, the prevailing winds have shifted to drive output lower and prices higher by @Nouriel Roubini Link
    Nouriel Roubini Tue 09 Aug 2022 21:13

    Coming after the stagflation (high inflation and severe recessions) of the 1970s and early 1980s, the Great Moderation was characterized by low inflation in advanced economies; relatively stable and robust economic growth, with short and shallow recessions; low and falling bond yields (and thus positive returns on bonds), owing to the secular fall in inflation; and sharply rising values of risky assets such as U.S., SPX,

  • Nouriel Roubini: stagflation is here and central banks will be trapped Link
    Nouriel Roubini Tue 09 Aug 2022 21:13
    The global economy is headed into a stagflation era, top economist Nouriel Roubini said. "The world economy is undergoing a radical regime shift," he wrote Tuesday, declaring the end of the Great Moderation. Roubini warned central banks may find themselves in a "debt-trap" as they try to normalize monetary policies.
  • Sleazy celebs conning retail suckers! 17 Celebrities Just Got Warning Letters About Shilling NFTs: A consumer watchdog group reminded that they need to disclose their connection to an NFT collection when they promote it on social media Link via @katienotopoulos
    Nouriel Roubini Tue 09 Aug 2022 16:30

    Celebrities have been quick to jump into NFTs, but their motivations for doing so may be confusing to fans. Truth in Advertising, a consumer watchdog group, just sent letters to 17 celebrities, including Jimmy Fallon and Gwyneth Paltrow, reminding them that not disclosing material connections (i.e., “Do you make money from this?”) when posting about something on social media violates Federal Trade Commission guidelines.

    “When it comes to NFTs, some celebrities are able to take financial risks due to their wealth, but many vulnerable consumers don’t have that luxury,” Bonnie Patten, executive director of the group that sent the letters, told BuzzFeed News. “Consumers deserve to understand the full picture behind a celebrity endorsement so that they can make fully informed decisions on whether or not to invest in NFTs.”

  • My new oped : From Great Moderation to Great Stagflation by Nouriel Roubini @ProSyn?referral=4d8e23 Link
    Nouriel Roubini Tue 09 Aug 2022 13:40
  • It is too early to declare risk of US recession is over. Rate rises and the contraction of the Fed’s balance sheet may still pull the rug from under the economy and markets by @elerianm Link
    Nouriel Roubini Tue 09 Aug 2022 13:35
  • RT @ProSyn: With governments unable to reduce high debts and deficits by spending less or raising revenues, @Nouriel expects that many will…
    Nouriel Roubini Tue 09 Aug 2022 12:24
  • Metaverse housing bubble bursting? Virtual land prices crash 85% amid waning interest Link via @cointelegraph
    Nouriel Roubini Tue 09 Aug 2022 12:14

    In particular, metaverse projects built on the Ethereum blockchain, including the Sandbox and Decentraland, have witnessed substantial declines in their valuations and other key metrics, data from WeMeta shows.

    For instance, the average price of lands sold across Decentraland peaked at $37,238 in February 2022. But as of Aug. 1, their costs had dropped to an average of $5,163. Similarly, the Sandbox's average sale price dropped from circa $35,500 in January to around $2,800 in August.

  • My latest op-ed on “From Great Moseration to Great Stagflation” Link
    Nouriel Roubini Tue 09 Aug 2022 10:09
  • “The US-China Tit-For-Tat Escalations Are Very Dangerous" by Ray Dalio Link
    Nouriel Roubini Mon 08 Aug 2022 18:04

    Unfortunately, what is happening now between the US and China over Taiwan is following the classic path to war laid out in my book "Principles for Dealing with the Changing World Order.” If events continue to follow this path, this conflict will have a much larger global impact than the Russia-Ukraine war because it is between the world's leading superpowers that are economically much larger and much more intertwined.  

    For reasons previously explained, the Russia-Ukraine war is minor by comparison, though the two conflicts are related and the Russia-Ukraine war, like all wars, is having terrible consequences. For example, consider that China's share of world trade is over seven times larger than Russia's [1] and constitutes about 19% of all American manufactured goods imports. [2] Imagine if importing goods from China and doing business with China became the same as they are with Russia now. Imagine what the supply chain and economic impacts on the world would...

  • Dangerous fatalism about a US-China war Link
    Nouriel Roubini Mon 08 Aug 2022 11:37
  • RT @davidgerard: when Mashinksy talked about banks, he was 100% projecting about himself https://t.co/88xfdmvJt6
    Nouriel Roubini Mon 08 Aug 2022 09:02
  • The Coming War Over Taiwan With its global power at a peak and domestic problems mounting, China is likelier than ever before to make good on its threats. Link
    Nouriel Roubini Sun 07 Aug 2022 14:53
    Vladimir Putin’s aggression in Ukraine, Xi Jinping appears to be preparing for an even more consequential onslaught against Taiwan. Mr. Xi’s China is fueled by a dangerous mix of strength and weakness: Faced with profound economic, demographic and strategic problems, it will be tempted to use its burgeoning military power to transform the existing order while it still has the opportunity.

    This peaking-power syndrome—the tendency for rising states to become more aggressive as they become more fearful of impending decline—has caused some of the bloodiest wars in history. Unless the U.S. and its allies act quickly, it could trigger a conflict that would make the war in Ukraine look minor by comparison.

  • RT @paragkhanna: Cascading crises are warnings to build resilient systems. @Nouriel has provided the warnings and the guidance. Thanks for…
    Nouriel Roubini Thu 16 Sep 2021 03:55
  • RT @wonkmonk_: Claudio Borio: Navigating by r*: safe or hazardous? Link "the ultimate objective would be to increase th…
    Nouriel Roubini Wed 15 Sep 2021 11:44
  • RT @wonkmonk_: Claudio Borio: Back to the future: intellectual challenges for monetary policy Link https://t.co/P9qtCduh…
    Nouriel Roubini Wed 15 Sep 2021 11:44

    The central banking community is facing major challenges – economic, intellectual and institutional. A key economic challenge is the need to rebuild room for policy manoeuvre, which has fallen drastically over time. This lecture focuses on the intellectual challenge, ie facts on the ground are increasingly testing the long-standing analytical paradigms on which central banks can rely to inform their policies. It argues that certain deeply held beliefs underpinning those paradigms can complicate the task of regaining policy headroom.   

  • RT @elerianm: (Posted earlier this morning) FYI, via the @FT: My thoughts on the scale, drivers, and persistence of #supply-side disruptio…
    Nouriel Roubini Tue 14 Sep 2021 19:19
  • Now @elerianm as well as Ken Rogoff and Larry Summers are talking about the rising risks of stagflation Link
    Nouriel Roubini Tue 14 Sep 2021 19:19

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  • US equities down 4% from peak as Stagflationary pressures persist: lower growth and higher inflation. See my latest @ProSyn column on the rising risk of stagflation. The Stagflation Threat Is Real by Nouriel Roubini @ProSyn Link
    Nouriel Roubini Tue 14 Sep 2021 19:14
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