Word: roubini
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...fisted and relatively poor Chinese consumers have the purchasing power to rescue China's economy, let alone the rest of the world. They're too busy saving for a rainy day. Beijing realizes that among consumers "household savings are high (and their consumption low) because of structural factors" says Roubini in his report, citing such factors as the lack of adequate health care and unemployment benefits, poor rural infrastructure and public services, lack of a proper social security system, and underdeveloped credit markets for mortgage and consumer finance. These all conspire to place an almost insurmountable drag on the government...
...Columbia economic professor Nouriel Roubini pointed out in a recent report written for private clients, car sales in China have been "artificially boosted on a temporary basis by incentives" and so are unlikely to sustain their rise. Similarly, a spike in purchases of white goods in China's countryside was largely caused by discount vouchers supplied to consumers by Beijing, Roubini notes...
...look much more attractive. Investors judge the value of a currency relative to others. Though the U.S. economy may be in its worst condition in almost 30 years, the rest of the industrialized world isn't any better off. "The dollar should be much weaker," says Nouriel Roubini, the bearish chairman of research firm RGE Monitor in New York City. "The problem is, not all currencies can fall relative to each other...
According to TIME calculations, U.S. banks hold $153 billion in residential mortgage bonds that used to have AAA ratings but have since been downgraded. The calculations are based on numbers from the International Monetary Fund, Fitch Ratings and New York University professor Nouriel Roubini. (Treasury and Federal Reserve officials declined to provide their estimates.) To get those selling, the Fed offers some attractive financing, but it hasn't made those details public and the financing is expected to be considerably less favorable than the FDIC rates. Treasury officials insist they have formulas worked out but are waiting to reveal details...
...President Barack Obama. In the U.S., despite all the talk about shovel-ready construction projects, only about $100 billion of the $787 billion in stimulus spending will go toward new infrastructure this year. Another $282 billion goes to tax cuts or rebates, much of which, as economist Nouriel Roubini argues, will most likely be saved, not spent. A big chunk of the rest of the package will go, via the states, toward social services: increased unemployment benefits, more money for food stamps and for health-care spending for the poor and the elderly...