Occupation: Economist Birth: March 29, 1958
I'm a rock star among geeks, wonks, and nerds..
You have to eventually nationalize US banks, you have to take the problem by the horns. In my view actually most of the US banking system is insolven….
In the history of modern capitalism, crises are the norm, not the exception..
Once you run current-account deficits, you depend on the kindness of strangers. This might be the beginning of the end of the American empire..
I think it's true that the 1 Percent or the elite are living in a world of, maybe, excessive privilege, and they don't fully realize how much pain an….
If you worry about financial Armageddon, it is indeed metaphorically the time to stock your bunker with guns, ammunition, canned food and gold bars..
I think investing in a good education has been key for me, although the investment was more in time than money..
The gains from technology must be channeled to a broader base of the population than has benefited so far..
Having spent 10 years studying emerging markets, I know that you have patterns repeated over and over again. A bubble is like a fire which needs oxyg….
What we need to understand is, one, that there are market failures; and two, that there are things like asset bubbles and irrational exuberance. Ther….
But in the financial markets, without proper institutional rules, there's the law of the jungle - because there's greed! There's nothing wrong with g….
I believe investors should invest for the long run, so I don't buy and sell. I usually maintain the classic index of global equities, diversified U.S….
A currency serves three functions: providing a means of payment, a unit of account and a store of value. Gold may be a store of value for wealth, but….
The global financial crisis - missed by most analysts - shows that most forecasters are poor at pricing in economic/financial risks, let alone geopol….
If we didn't have greed, market economies wouldn't be as innovative as they are. But in my view, greed has to be contained by the fear of losses, so ….
I believe, unlike people that are totally free-market, laissez-faire fundamentalists, that there is an important role that the government can play - ….
I am quite international. My background, born in Turkey. My family is a Jewish family from Iran, so I went from Turkey to Iran to Israel, and then gr….
I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the wors….
I'm not a pessimist by nature. I'm not someone who sees things in a bleak way..
All the risky things that were happening back in ’06 and ‘07 are back again to the same level, if not more. So we are in the beginning of a credit bu….
Gold has no increasing value. And if you're really worried about, say, inflation rising, I would buy Spam. You know, you can eat Spam. You cannot eat….