The "Prophet" of Economics at MIPIM 2011

In 2005 Dr. Roubini prophesied in Fortune magazine that "house prices that are being overrated due to a surge in speculation will soon sink the economy." Pursuing this idea further, in 2006 he announced to members of the IMF that a major recession was imminent, comparable to the 1929 crisis, starting with the collapse of U.S. real estate, soaring oil prices and the loss of consumer confidence (IMF Survey, October 16, 2006). Although few people listened to him at the time, he is now considered a visionary. His economic forecasts are much-awaited and he was recently contacted by Irish and Greek leaders to advise them about the serious crises facing their countries.

"The property sector plays a crucial role in the global economy. More than ever today, it is essential for real estate stakeholders to have a clear vision of the global economic outlook when building their development strategies. This is why we are giving MIPIM participants an opportunity to interact with one of today’s finest global economic analysts," comments Filippo Rean, the Director of MIPIM.

Nouriel Roubini will give an analysis of the global economic situation, stressing the need to take factors such as the challenges to the euro and the nature of the U.S. economy into account when understanding developments.

"I am delighted to speak with international players in the property market at a time when the global economy is developing around two opposing trends. While Western countries are facing problems related to poor growth, the economies of emerging markets are overheating. Discussing these issues with MIPIM participants will give me an excellent opportunity to speak directly to the players and leaders of the real estate industry, which plays a key role in the global economy, and draw their attention to the coming challenges so we can create a virtuous circle," says Nouriel Roubini.

Nouriel Roubini was born in Istanbul in 1959. He studied economics at Harvard University in the United States, where he earned his doctorate in economics in 1988. His supervisor, Jeffrey Sachs, noted his remarkable talent for both a mathematical and intuitive understanding of economic institutions. He acts as a prestigious Senior Advisor to the White House Council of Economic Advisers and the U.S. Treasury Department. He plays a key role in economic forecasting as an economics professor at New York University's Stern School of Business, and President and Founder of the Roubini Global Economics firm of analysts. The co-author of Crisis Economics: A Crash Course in the Future of Finance, he has published widely on major topics in global macroeconomics and writes a blog at Roubini Global Economics.

To learn more about Nouriel Roubini, click here


on January 20, 2011