![‘People are not going to have money to buy food once they lose their jobs,’ says Roubini [Full]](https://iml-jp.com/wp-content/uploads/2020/03/People-are-not-going-to-have-money-to-buy-food-once-they-lose-their-jobs-says-Roubini-Full.jpg)
Economist and professor at New York University’s Stern School of Business
Nouriel Roubini discusses the impact the COVID-19 pandemic is having on the economy. Roubini also weighs in on what the government needs to help the households and businesses.
#COVID-19 #coronavirus #Nouriel Roubin
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I never hated more giving a thumps up to a YouTube video as I did with this one.
He was spot on in 2008.
So this guy was asked for a positive spin…
The only I see in all that you talk about is just a lot of symptoms on the problem that most countries don´t have a real democratic system ( like the one they have in Switzerland) were elit, politics and administration are forced to follow and protect the individuals choises, rights and assets..instead of be a corrupt, superior cancer on them. Real democracy is the only thing who can otherside balance the dynamics in human ecosystem whatever direction it have.
The speculation about economic collapse has never proven correct. This virus will pass and life will return to whatever is your normal.
This old *hole .. his last words will be .. “Buy Bitcoin.”
Poor Americans have money for Iphones. It’s the most common phone in the ghetto by far.
So basically companies that had no business taking on a bunch of debt created their own downfall and now they’re paying for it
Yep simple maths
This guy is as brilliant, as Professor Richard Wolff!
$1000.00 will do nothing, needs to be 5 x , 10 x
Hide your valuables and hide some food. If someone wants your stuff they will stop at nothing to get it.
New world Order ..Comming to u soon ..People are Stupid ..This is going to be Easy for the Elite..There Laughing at us ..Prince Charles has got the virus ..These stupid people would believe the media ..That ..Princess Diana has Woken from the Grave ..And contracted the Virus..!
He was right today we lead the world in Coronavirus infections just as he said the rest is happening too
Now it’s almost 2 weeks past and he’s absolutely right on where America is: the country with the most cases in the world
This guy is an IDIOT! Let companies fail and let society realize that they should have saved. Let the free market work and stop printing money. Unfortunately, the free market has to work in every aspect, not just business transactions. We survived the 1921 crash and depression that no one talks about. When we let the system self correct we come out stronger. STOP PROPING THING UP!
Manet’s “Luncheon on the Grass” will be a metaphor for the 2008 GFC compared to what Roubini sees coming.
Would it be less damaging to society as a whole to adopt a policy of “Business as Usual” and let nature takes its course?
My Rationale :-
1. Not everybody (but the majority – say 80 %) will get Corona Virus
2. Of those who get the virus, the majority will suffer either mild or no symptoms
3. Of those who suffer severe symptoms, the mortality rate is said to be 3% (far less in some countries such as Germany).
4. Of those who lose their lives, a large percentage would have died around that time anyway (of an underlying condition).
(NOTE: I am only regurgitating “facts” I’ve heard in the general media – so the “facts” may be “fake news”.)
PROBLEM…..REACTION…….SOLUTION……..we already know the PROBLEM–the virus exposed an overinflated market. We’re now at the beginning stages of REACTION. Once they see the level of poverty, hunger, rioting & looting is when they’ll provide a SOLUTION. Right now EVERYONE is in disbelief and in fear. It is when that fear turns to anger and chaos is when the SOLUTION will either be a Global reset or a DIGITAL CURRENCY
Jesus Christ talk about go on and on for GODS Sake Shoot me
they can spend trillions on defence they can give 1000 to everyone for a month or two
Well that’s exactly what happened with the smallpox outbreak In Montreal in 1850. The pandemic of this virus is similar to what has been happened to the outbreak of smallpox. People need to start treating this infection like smallpox and that there is nothing more that can be done. They must rely on establishing trust funds to help establish an emergency funding to help support themselves during the time of crises. Many people are dying and that is not something for us to completely ignore. They need to talk by phone or by online to establish communication to find ways that they could establish a supplemental funds to help them get medical supplies and food as well as some essential supplies they do need. They need to stop feeling helpless and to start getting themselves back on their feet while being in total isolation.
That doesnt sound good.
This prediction is already happening in Italy.
Here in New Zealand we are on lockdown for a month, essential services still operate. We had one week’s notice from our government to get ready for isolation. I don’t think 4 weeks is the end game I think more like 2-3 plus months. Financially I will struggle like many others. But my gut tells me our government’s are not telling us the worse case scenario…be ready for any scenario..keep calm but be focused and ready…peace
Is this what trump meant by making america great again?
trump slapped the Chinese with tarfs and the Chinese slapped trump with corona virus
Where can I buy more toilet paper?
If america collapses what effect does that have on the rest of the world?
Nice to hear common sense, it’s a rare thing these days
Gloom and Doom speak of the faithless
He is an economic genius. I have great respect for him.
…but the CEOS are counting on their bonuses dammit !!
can the 99% get a refund from the 1% to free up trillions ?? Seems like a logical starting point, if you want to survive!
When the 99% get hungry enough, let them eat the rich… They taste like crap but they’re actually very nutritious!
LOL! I’m going to stock up on mustard – strong mustard….
Heck! What food!!!! People are going to starve with the grocery store buying panics.
Economist job description should be changed to IMBECILE…these are the idiots that got us here and now they all know the way home….really….
he has been proved wrong already – he said washington dc will not be able to act jointly but both parties agreed on a stimulus plan
RESEARCH AGENDA 2030!!!
DEPOPULATION is the GOAL!! TOTALITARIAN GOVERNMENT, Total Control, No Rights, No Freedome, Toxic ID chipped Vaccines, Cancerous 5G 60ghz Military Towers EVERYWHERE!!!
That girls microphone seems very happy…
6:00
They have been fattening us up our whole lives for this moment who would have thought there would be a benefit to being obese.
How bout we get rid of the feds and central bank and lock all of them up for there treason???
No vaccine no mark no mark no food!🔊
My pecker is collapsing…
Just a couple of weeks ago, this professor was so sure that the bailout would take months…in his view there was no way a massive bailout on the tune of 1 trillion dollars could be passed by the government in less than 3 months. Not only the government did it a matter of a week and a half , they did it in the tune of 2 trillion. Just google his videos from early March. The guy is a lunatic and a scare monger. Yes, unemployment will spike to nearly 20%, however governments around the world understand that this was not a crisis that originated due to greed on Wall Street. That was the reason that last time the government took months to understand the nature of the problem and agree to a solution. Dems did not want the banks to be bailed out and Republicans wanted to. This time everyone is on the same page, no greedy “capitalist “ is to be blamed . Govt will be able to tackle the massive unemployment by additional bailouts. This being an election year will further speed up reactions from the republicans and they will be more than willing to send more money on social programs. This is not similar to any recession in the last 100 years. Stop comparing it to 1929 or 2008. Different problem, different cause and different reactions from all actors.just realized that this is an old video. But comments are still pertinent. He is a scare monger. US is more resilient than he gives credit . This is not Europe or Asia. With every adversity comes opportunities. US capitalism is more than capable to jump on it. As Buffett said, never bet agains America.
Dream on while we prepare.
Do you even have winter coats or long pants?
I can hear someone typing away…
Facebook gave their employees $1,000.
Thats nice. Marc Zuckerberg is worth around $65 billion. Divided by 35,000 employees.
Thats $1.8 million per employee.
That’s how capitalism works. Make a dollar off your back, give you a penny.
Do what I did: Go to work at Amazon.
Instead of giving everyone cash, why don’t they give them a prepaid visa card. That way the government can ensure all the receiptants would spend the money.
the usa needs to roll out massive infrastructure proejects. shovel ready projects so the govt can employ people directly. if the usa doesnt its fucked.
That’s coming. Just like the forced labor camps during the Great Depression. They worked 8 hours a day 7 days a week and were paid 20 CENTS a day. That’s $9.42 a day in todays dollars. That’s what’s coming. I hope you like it. This is why everyone should have saved.
Yup that’s what’s you pay when u squander everything.
So much for retiring in a few years! I’m almost certain Social Security will be gone by then! F**K! 🤬
All these facts and figures,, but you’re missing the point .. the point you have to ask is can our current economic system continue?? we have mass production ,Mass consumption, mask pollution , you have to sell so many millions of cars , so many millions of phone, so many millions of TVs ,,etc etc unless you do that your jobs will be lost … can we continue to put this kind of stress on the Earth ?? we cannot go back to what we consider normal we are not “normal”!!!!!!
We will all be cooking at home more. Eating out may never fully recover. Dinning will become a more social affair
Let Trump and the GOP know that we need socialism not CAPITALISM.
A thousand dollars? 🤣🤣🤣
I’m sick and tired of these assholes pretending like there was no MASSIVE stimulus passed. The total monetary help is just under $6.6T. That’s literally 1/3 the yearly GDP of the United States.
China 🇨🇳 is responsible for this mess ..,, kick chinese out of country
Words of wisdom. Soak em up and prepare for tough times
Mass starvation is a mere few weeks away. And hungry people will be looting, pillaging and doing whatever it takes to fill their bellies. Within a year or two, 90 percent of Americans will be dead, with just the preppers and a few others alive.
“Two weeks and we will be worse than Italy” here we are he was correct.
Even I could predict that though.
My dead grandmother could have predicted that.
Wise man
No life then no chance to eat food …
Possible? Starving citizens turn to rioting
when the majority thinks things will be ok, you know it won’t be
Didn’t aAndrew Yang say something like that $1000 a month?
People are not going to have money to buy food once they lose their jobs,’ says Roubini – this Roubini guy is brilliant, isn’t he?
Trump is Jesus Christ and he will feed all people in the world you dirty mule.
Doctor Doom was Always Right
This guy is an idiot..he talks about doom every day for years..and then when something actually happens, he claims he predicted it. Sucks that they keep booking to coin flipping economists.
Luckily Hollywood said we’re in this together and will let us all move with them.
“YOU SO CALL WHITE!!! REALLY THINK THAT YOU AN YOUR PEOPLE’S ARE GOING TOO “RULE THIS WORLD A 1000 MORE YEARS!!! YOUR “RULERSHIP” IS FALLING!!! RIGHT IN YOUR “FACE” NO MORE!!!!!
$1000 earmarked for beer and whisky before they ban alcohol like Mexico
… so it’s our fault but no mention of the 1% fleecing the other 99%, you sir are the problem… the 1% rely on your stupidity so they can amass all the wealth while telling you just eat less, And your response is duh okay
All them do is simply call people and give them the money to buy food. It’s a system crash so what will organization do with the money
The fed is made up of 12 private banks. This is a fact that is publicly available. Currently has 5.8 Trillion on its balance sheet. Who are these private people that loan us this money? The system is so corrupt it’s actually hard to believe it. See youtube channel – Best Evidence for a walk-through of these facts which are in plain site.
Breaking news
Hundreds of Millions of people world wide have already run out of money..
No money
No food
Nanny state dependent entitlement consumers and 40 years of PC culture.. the dumbing down of the west. Manufacture a disaster, propaganda media, civil unrest.. bring in marshal law. The desired effect.. slavelandia! 😲
How about intstead of a tax payer bailout, the billionaires liquidate their assets, since Bill Gates and his buddies are forcing the shut down.
MAKE FOOD FREE WITH IDS !!!!(CERTAIN RATIONS PER HOUSEHOLD MONTHLY)COMPUTERIZE THE TRANSACTIONS!!!!!NOW!!!👍🏼😇
This guy is a massive idiot when it comes to ubi.
Nouriel I’ve got Bills Too Roubini says buy my news letter….it’s great value.
he’s the best
Helicopter money will cause massive inflation just like printing trillions to buy the stock market.. 1000 will be worth a burger and chips.. maybe only the chips! Idiots…and fools.
Don’t do a video platform like this and constantly type in the background. It’s very distracting. 🤨
Fabricated
We are a very spoiled society. My parents survived the 2nd worldwar, my grandparents the first and the second one. So why people should not be able to survive this situation for one month or two. What do you think how the homeless people survive or the children in Syria or Yemen. They have to starve and have no roof over their head.
he was right.
quick? …yeah, naw.
Now we know why Homeland Security bought 2 billion rounds of ammo, according to Forbes magazine.
Dr. Doom is a crystal ball.
If people stop working and buying it will result in a financial crisis. It’s wrong to look at the two as separate. A financial crisis is a symptom of this pandemic and shutdown.
FUNDS CONTROL THE MARKETS BLACKWELL FUNDS HAVE 300 BILLION TO MAKE THE MARKET MOVE TO SUCK OTHERS IN THE MARKET !!
THE MARKETS R GOING TO THE MOON !! CORONA IS OVER 4/14/20 JPM UP AND AWAY !!
$1200 later, many Americans are living off unemployment and hoping to find a job before they lose their house.
The protests to wright off the debt will birth looters and riots. Three meals from a revolution though you can’t eat money.
Then who will Buy Tesela Cars and other Cars, Tesela Electricity, Microsoft Windows, Use Facebook, Tesela Transportation, and Other companies products. Airports, ports or banks or banks who loan will not get returns. Who will buy songs or movie or Agriculture products. Robots may not buy Tesela Solar Energy. Engineers may loose jobs too as do mostly majoritly a laborious jobs. Not many people do pioneering or innovative world in this work. 10percent are different 90 percent are followers in human. No body expect everybody to innovative everyday..
I have followed Nouriel Roubini for several years and listened/read his advice and projections. He is truly wise. I always enjoy watching his videos. Highly recommended.
18 March – he said Congress would not pass 600bn stimulus before the stock market is down 50%.
17 May – the stock market is way off its lows and they agreed to spend TRILLIONS!