Nuriel “Dr. Doom” Noubini's Crash Warnings

Thanks to the economy's tailspin and the ever-increasing number of layoffs happening left and right, now truly is a very tough time for people to be studying as graduate students. This is especially true for those who are just in the middle of their graduate studies in Masters in Business Administration and preparing himself for hitting the job marker. Such a statement is very much felt in the halls of the economy classroom at New York University, in a course about the global economy facilitated by the esteemed professor Nouriel Roubini – a predictor of sorts. At the beginning of his class, Roubini would click on his overhead screen and present to everyone the latest dismal activities in the economic life of the world.

Simply Awful

According to Roubini, such repors are simply awful, as he refers to the latest news in unemployment estimates. Clicking on to another set of data, he would then precede with yet another comment – that such is as bad as one can get. The following ninety minutes of class, the black suit-clad Roubini would finger his reading glasses and run his hands on his tousled dark hair and share with the students his plans. And such are good plans, which are closely listened to by the entire MBA class – plans that will actually work to rebuild the entire global financial system. No one would dare challenge him, and everything he said was recorded by pen or recorded in the mind – for everything that “Dr. Doom” says matters.

The Nostradamus of Economics and Finances

Professor Roubini has long been making his dire predictions about the now-felt United States economic collapse even at the time when most Americans busied themselves by taking out housing loans and getting deeper into the credit crisis. Because of this, more than once was he referred to as the oracle of sorts when it comes to financial crisis. In mid-2006, he was able to explain through his blogs and well-listened to speeches that the housing bubbles would invariably result in a very severe recession. He was also able to predict that the mortgage defaults would end up becoming the ruin of many financial institutions and that the combination of soaring oil prices and the falling down of home prices would cut back consumer spending.

Indeed, Roubini is unique among his peers because of his gloom and doom predictions (all the while his peers and other economists were only brave enough to foretell a softer landing when it comes to forecasting on the economy). Now, Roubini is able to scoff at the confidence that others feel as the year opened – for his view on things was indeed more obvious than most and he could not imagine how anyone could actually argue with him otherwise. It can be said that Roubini, acting more like a meteorologist, can skillfully sift through data and come up with predictions based on patterns and similarities to events that had already past – which is more than what most can say for others.