“We are in a debt trap” – Nouriel Roubini

YouTube has the video “We are in a debt trap” – Nouriel Roubini on 10 ‘megathreats’ to our world and how to stop them.

Nouriel Roubini is an economist, a professor in New York, a global economic consultant and an author who, amongst many distinguishing things, was one of those who foresaw the 2008 credit crunch and financial crisis.

His latest work is called ‘Megathreats’, and it details 10 trends that make it more likely than not that we are heading for a global economic crash of stagnant growth, debt crises and high inflation that will cause decades of dystopian suffering and injustice. No wonder they call him Dr. Doom.
In this episode, Nouriel joins Krishnan to talk about climate change, job-displacing artificial intelligence and our future.

Is there value in disputing conclusions that may be right but are based on the wrong reasons? I can’t tell you exactly what will go wrong when you base you predictions on the wrong reasons, but I have faith that the wrong reasoning will come back to bite you. In this case, the wrong reasoning is the refusal to differentiate private debt from the debt of a currency creator. There are some limits to how much different they are, but the differences do exist.

Here is the link to the Channel 4 News on YouTube.

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