Roubini Conceals Activities From Senate, Questions Arise If The Economist Deserves A Platform
A recent report revealed that renowned economist who predicted the financial crisis of 2008, Nouriel Roubini, has ultimately failed to disclose his professional activities before the Senate. In particular, he described his roles as serving as a “professor of economics at the Stern School of Business,” and calling himself as “an expert of the global market.”
He also shared that he has never contributed or tested the waters of the crypto sphere, by adding that,
“unlike all self-interested crypto insiders and scammers […] I have zero long or short position in any coin or cryptocurrency and any blockchain business venture.”
His comment on neither holding a long or short position is contradicting considering the fact that he has provided consultancy services for a number of years now, in which he earned over millions of dollars. Roubini has advised and worked alongside several “policy institutions, central banks, and a number of senior executives from major financial institutions,” as per Trust Nodes.
Unfortunately, said roles that have been concealed from the Senate seems to be concealed from every online and available source possible, as it can be seen nowhere which firms he has actually served as a consultant. This is problematic given the fact that he spoke before the Senate in regard to the crypto and blockchain industry.
Does Roubini Deserve To Be A Recognized Economist?
Back in 2013, Roubini, who’s been against Bitcoin and its likes had tweeted disapproval of the giant, as if he was trying to make a valid point. If we took that into consideration today, he would have been one of many who failed to on board the crypto train.
In particular, his tweet read, “While everyone was focused on Gold and Silver, #Bitcoin dropped another 40%, traded below $58.” Compared to Bitcoin’s current value of USD$6,205, the USD$58 is very miniscule.
Giving him the boasting rights for serving as an economist does not seem to sit well with some, as a Trust Nodes post argued reasons why he is not deserving of it.
First, Roubini “never held long or short position” to test the waters himself, therefore, what gives him the right to confirm that cryptocurrencies are scams? When it comes to evaluating a token or stock over the long term, some predictions need to be made, but Roubini never has, which invalidates his claims altogether.
The second and most interesting argument made dates back to the time when he predicted the 2008 financial crisis. A 2006 New York Times’ report which quoted Roubini noted the following:
“In the coming months and years, [Roubini] warned, the United States was likely to face a once-in-a-lifetime housing bust, an oil shock, sharply declining consumer confidence and, ultimately, a deep recession.”
According to the claims made, Roubini’s prediction was not valid because he explicitly shared what many were already seeing as a possible event to go down.
In addition, the Trust Nodes report stated,
“Had he made such prediction when it mattered, before things had gotten out of hand […] then a new generation might have been impressed.”
So, all this raises questions as to his experiences and contributions at establishments like “International Monetary Fund, the Federal Reserve, World Bank and Bank of Israel,” not to mention him holding the fourth position in the “Top 100 Global Thinkers”.
What are your thoughts on Roubini as a “global thinker”? Do you think he took occurring events to his advantage to get the titles he has gained? Or is he truly deserving of the supposed accomplishments made?