TVS may stand for:

Television, Tele-Networking[link]

• TVS, aka Television Sydney, free TV channel in Sydney, Australia
• TVS, aka Television Silesia, free TV channel in Katowice, Silesia
• TVS, aka Television South, the ITV franchise holder in the South of England between 1982 and 1992
• TVS Television Network, US distributor of live programming (mostly sports), in the 1960s and 1970s
• TVS (Russia), a defunct Russian television channel
• TVS China, also known as Southern Television Guangdong, a regional television network
• TVS (Venezuela), Venezuelan regional television channel based in the city of Maracay
• The former name of the Brazilian channel now known as Sistema Brasileiro de Televisão
• The acronym for Television Saitama whose station "Teletama" serving Saitama Prefecture, Japan

Other[link]

• TVS Group, an industrial conglomerate based in India
  • TVS Electronics, Computer peripherals manufacturing company
  • TVS Motor Company, motor manufacturing company
• topological vector space
• Thompson, Ventulett, Stainback & Associates, an Atlanta-based architecture firm
• transvaginal ultrasound
• transient voltage suppressor
• Trinity Valley School, a private school in Ft. Worth, Texas
• The Virgin Suicides, a 1993 novel
• TVS Supercharger, a positive displacement supercharger
• Tornado vortex signature

This disambiguation page lists articles associated with the same title. If an internal link led you here, you may wish to change the link to point directly to the intended article.

Dream Team in sport, often only as a nickname, may refer to:

• The roster of the 1992 United States men's Olympic basketball team in Barcelona
• Brazil men's national volleyball team under coach Bernardo Rezende since 2002
• FIFA Dream Team, an all-time all-star football team published by FIFA in 2004
• The Puerto Rico national baseball team in the 1995 Caribbean Series
• An era (1991–1994), in the history of FC Barcelona, a Spanish football club
• The Philippines national basketball team in the 1990 Asian Games
• The Dream Team (professional wrestling), professional wrestling tag-team in the World Wrestling Federation 1985–1987
• Dramatic Dream Team, Japanese professional wrestling promotion
• Super League Dream Team, award for players in the European rugby Super League
• Dream Team Australian rules football team, that represented the States and territories of Australia other than Victoria in the AFL Hall of Fame Tribute Match
• AFL Dream Team, a notable online competition for supporters run by the Australian Football League

Dream Team in television and film may refer to:

• Dream Team (TV series), a British television series
• The Dream Team (film), a 1989 American comedy film
• Dream Team (The Office) an episode of the American television series The Office
• The Dream Team (Entourage Episode), an episode of Entourage
• Let's Go Dream Team! Season 2, a Korean television series

Dream Team may also refer to:

• Dream Team (theater), a Stage Management Team located in Terre Haute, IN that worked on shows including Real Girls Can't Win, 1,001 Arabian Nights, and Bad Dates
• Dream Team (comics), a fictional group of Marvel Comics superheroes
• The Dream Team (warez), a cracking/releasing warez group for the IBM PC active 1989–1996
• LA Dream Team, American hip-hop act
• Nickname for the defense legal team in the O. J. Simpson murder case

This disambiguation page lists articles associated with the same title. If an internal link led you here, you may wish to change the link to point directly to the intended article.

Jimmy Kimmel
Kimmel in May 2007
Birth name	James Christian Kimmel
Born	(1967-11-13) November 13, 1967 (age 44) Brooklyn, New York, USA
Medium	Radio, Television, Film, Stand up
Nationality	American
Years active	1989–present
Genres	Observational comedy, Black comedy, Satire, Deadpan
Subject(s)	American politics, Celebrities, Everyday life, Sex
Influences	David Letterman
Spouse	Gina Kimmel (1988–2002; divorced; 2 children)
Domestic partner(s)	Sarah Silverman (2002–2007; 2008–2009) Molly McNearney (2009–present)
Notable works and roles	Creator and Host of Jimmy Kimmel Live! (ABC) Creator and Co-Host of The Man Show co-host of Win Ben Stein's Money (Comedy Central) co-host of Crank Yankers
Emmy Awards
Daytime Emmy Award for Outstanding Game Show Host: 1999 Win Ben Stein's Money

James Christian "Jimmy" Kimmel (born November 13, 1967) is an American comedian, actor, voice artist and television host. He is the host of Jimmy Kimmel Live!, a late-night talk show that airs on ABC. Prior to that, Kimmel was best known as the co-host of Comedy Central's The Man Show and Win Ben Stein's Money. Kimmel is also a television producer, having produced shows such as Crank Yankers, Sports Show with Norm Macdonald, and The Andy Milonakis Show.

Early life[link]

Kimmel was born in the Mill Basin neighborhood of the New York City borough of Brooklyn,^[1] the eldest of three children of Joann (née Iacono), a homemaker, and James Kimmel, an IBM executive.^[2][3][4] He is Roman Catholic and, as a child, served as an altar boy.^[5][6] Kimmel is of German and Irish descent on his father’s side and Italian descent on his mother’s side.^[7] His uncle, Frank Potenza, appeared on Jimmy Kimmel Live! as a regular from 2003 until his death in 2011.^[8]

The family moved to Las Vegas, Nevada, when he was nine years old.^[2] He graduated from Ed W. Clark High School and then attended University of Nevada, Las Vegas for one year before attending Arizona State University for two years without completing a degree.

Career[link]

Radio career[link]

Kimmel began working in the radio industry while in high school, hosting a Sunday night interview show on UNLV's college station KUNV. While attending Arizona State University, he became a popular caller to the KZZP-FM afternoon show hosted by radio personalities Mike Elliott and Kent Voss in Phoenix, Arizona. In 1989, Kimmel landed his first paying job alongside Voss as morning drive co-host of The Me and Him Show at KZOK-FM in Seattle, Washington. Ten months later, Kimmel and Voss were fired by KZOK (for reasons unknown) and were fired again a year later at WRBQ-FM in Tampa, Florida. Kimmel went from Tampa to host his own show at KCMJ in Palm Springs, California, where Kimmel convinced a young Carson Daly to drop out of college and become his intern. After a morning stint at KRQQ In Tucson, Arizona, Kimmel landed at KROQ-FM in Los Angeles. He spent five years as "Jimmy The Sports Guy" for the Kevin and Bean morning show. During this time he met and befriended a struggling comedian named Adam Carolla.^{[citation needed]}

Comedy Central[link]

Kimmel began his television career as the comedic counterpart to Ben Stein on the game show Win Ben Stein's Money, which began airing on Comedy Central in 1997. His quick wit and loutish everyman personality were counterpoints to Stein's monotone performing style and patrician demeanor. The combination earned the pair an Emmy award for Best Game Show Host.^{[citation needed]}

In 1999, during his time with Win Ben Stein's Money, Kimmel was also co-host with Adam Carolla and co-creator (with Daniel Kellison) of Comedy Central's The Man Show. Kimmel permanently left Win Ben Stein's Money in 2001, replaced by comedian Nancy Pimental, who was eventually replaced by Kimmel's cousin Sal Iacono. The Man Show's success allowed Kimmel, Carolla and Kellison to create and produce, under the banner Jackhole Industries, Crank Yankers for Comedy Central (on which Kimmel plays the characters "Elmer Higgins", "Terrence Catheter", "The Nudge", "Karl Malone" and himself), and later The Andy Milonakis Show for MTV2. Kimmel also produced and co-wrote the feature film Windy City Heat, which won the Comedia Award for Best Film at the Montreal Comedy Festival.^{[citation needed]}

[edit] Jimmy Kimmel Live!

In January 2003, Kimmel permanently left The Man Show to host his own late-night talk show, Jimmy Kimmel Live! on ABC. Jimmy Kimmel Live was briefly also broadcast on Irish digital TV channel 3e.^[9] In the April 2007 issue of Stuffmagazine.com, Kimmel was named the "biggest badass on TV". Kimmel said it was an honor but clearly a mistake.

Since the show's second season, it has not actually been broadcast live. This is due to an incident during the 2004 NBA Finals in Detroit, when Kimmel appeared on ABC's halftime show to make an on-air plug for his show. He suggested that if the Detroit Pistons defeated the Los Angeles Lakers, "they're gonna burn the city of Detroit down ... and it's not worth it." Officials with Detroit's ABC affiliate, WXYZ-TV, immediately announced that night's show would not air on the station. Hours later, ABC officials pulled that night's show from the entire network. Kimmel later apologized.^[10] The incident led ABC officials to force Kimmel to tape his show an hour before it airs in most of the country to check for offending content.^[11]

Kimmel usually ends his show with, "My apologies to Matt Damon, we ran out of time." When Matt Damon did actually appear on the show to be interviewed, he walked in and sat down only to be told just a few seconds later by Kimmel, "Sorry, but once again we are completely out of time." Damon seemed to become angry.^{[citation needed]}

In February 2008 Kimmel showed a mock music video with a panoply of stars called, "I'm Fucking Ben Affleck",^[12] as "revenge" after his then-girlfriend Sarah Silverman and Matt Damon recorded a similar video, "I'm Fucking Matt Damon". Silverman's video originally aired on Jimmy Kimmel Live!, and became an "instant YouTube sensation."^[13] Kimmel's "revenge" video featured himself, Ben Affleck, and a large lineup of stars, particularly in scenes spoofing the 1985 "We Are the World" video: Brad Pitt, Don Cheadle, Cameron Diaz, Robin Williams, Harrison Ford, Dominic Monaghan, Benji Madden and Joel Madden from Good Charlotte, Lance Bass, Macy Gray, Josh Groban, Huey Lewis, Perry Farrell, Christopher Mintz-Plasse, Pete Wentz, Meat Loaf, Rebecca Romijn, Christina Applegate, Dom Joly, Mike Shinoda, Lauren Conrad, and Joan Jett, among others. After this Jimmy's sidekick, Guillermo, appeared in a spoof of The Bourne Ultimatum, which starred Damon. He was then chased down by Damon as Matt cursed about Kimmel being behind all this. Guillermo also stopped Damon on the red carpet one time and before he could finish the interview he said, "Sorry we are out of time." The most recent encounter was titled "The Handsome Men's Club" which featured Kimmel, along with the "Handsome Men", who were: Matthew McConaughey, Rob Lowe, Lenny Kravitz, Patrick Dempsey, Sting, Keith Urban, John Krasinski, Ethan Hawke, Josh Hartnett, Tony Romo, Ted Danson, Taye Diggs, Gilles Marini, and Ben Affleck, speaking about being handsome and all the jobs that come with it. At the end of the skit Kimmel has a door slammed in his face by none other than Matt Damon, stating that they had run out of time and then Damon continues with a sinister laugh. Jennifer Garner also makes a surprise appearance.

As a tradition, celebrities voted off Dancing with the Stars appear on Jimmy Kimmel Live!, causing Kimmel to describe himself as "the three-headed dog the stars must pass on their way to No-Dancing Hell".^[14] In the 2008 season of his show, Kimmel started another tradition of ceremonially burning the dancers' shoes after they were voted off DWTS.^{[citation needed]}

Other television work[link]

In Spring 1996, Kimmel appeared as "Jimmy the Fox Guy" in promos on the Fox network.

Kimmel's other television work included being the on-air football prognosticator for Fox NFL Sunday for four years. He has had numerous appearances on other talk shows including, but not limited to, Live with Regis and Kelly, The Howard Stern Show, The Ellen DeGeneres Show, and The Late Show with David Letterman. Kimmel has appeared on The Late Show five times, most recently in 2010. Kimmel served as roastmaster for the New York Friars' Club Roast of Hugh Hefner and Comedy Central Roasts of Pamela Anderson. He has appeared on ABC's Dancing with the Stars, along with his parking lot security guard Guillermo.

In August 2006, ABC announced that Jimmy Kimmel would be the host of their new game show Set for Life.^[15] The show debuted on July 20, 2007. On April 6, 2007, Kimmel filled in for Larry King on Larry King Live. That particular show was about the paparazzi and Kimmel reproached Emily Gould, an editor from Gawker.com, about the web site's alleged stalking of celebrities. On July 8, 2007, Kimmel managed the National League in the 2007 Taco Bell All-Star Legends and Celebrity Softball Game in San Francisco. He played in the game in 2004 and 2006 (Houston and Pittsburgh). On July 11, 2007, Kimmel along with basketball player LeBron James, hosted the 2007 ESPY Awards. The show aired on ESPN on July 15, 2007. Kimmel hosted the American Music Awards on ABC four times, in 2004, 2006, 2007, and 2008.

Kimmel guest hosted Live with Regis and Kelly during the week of October 22, 2007 – October 26, 2007, commuting every day between New York and Los Angeles. In the process, he broke the Guinness Book of World Records for the longest distance (22,406 miles (36,059 km)) travelled in one work week.^[16]

Kimmel has performed in several animated films, often voicing dogs. His voice appeared in Garfield and Road Trip, and he portrayed Death's Dog in the Family Guy episode "Mr. Saturday Knight"; Family Guy creator Seth McFarlane later presented Kimmel with a figurine of his character on Jimmy Kimmel Live!. Kimmel also did voice work for Robot Chicken. Kimmel's cousin "Sal" (Sal Iacono) has accepted and won a wrestling match with WWE superstar Santino Marella. On January 14, 2010, in the midst of the 2010 Tonight Show host and time slot conflict, Kimmel was the special guest of Jay Leno on The Jay Leno Show's "10 at 10" segment. Kimmel derided Leno in front of a live studio audience for taking back the 11:35 pm time slot from Conan O'Brien, and repeatedly insulted Leno. He ended the segment with a plea that Leno "leave our shows alone," as Kimmel and O'Brien had "kids" while Leno only had "cars".^[17]

Kimmel also made a brief appearance in the TV commercial "There's A Soldier In All Of Us" promoting the 2010 video game Call of Duty: Black Ops, along with Kobe Bryant. He is seen taking cover from bullets, then firing an RPG-7 with the words PROUD N00b on it, with the aftershock from the weapon sending him tumbling backwards.

He has been asked to host the 64th Primetime Emmy Awards which will air on September 23, 2012, marking his first time hosting the event.^[18]

Kimmel hosted the White House Correspondents' Dinner in Washington, D.C. on April 28, 2012.

Personal life[link]

Kimmel and his then girlfriend, Gina, married in June 1988. They have two children, Katie (born 1991) and Kevin (born 1993). The marriage ended in separation in early 2002. Kimmel then dated comedian Sarah Silverman for five years, splitting with her in March 2009.^[19] He started dating current girlfriend, Molly McNearney, in October 2009. McNearney is also a co-head writer for Jimmy Kimmel Live.^[20]

Kimmel plays the bass clarinet. He got a chance to showcase his talent during a July 20, 2008, concert in Costa Mesa, California, featuring the Mighty Mighty Bosstones, when he took the stage and played bass clarinet on their hit song "The Impression That I Get."^[21]

Kimmel has spoken publicly of being a narcoleptic.^[22]

Kimmel co-founded the annual LA Feast of San Gennaro,^[23] which celebrates Italian culture through entertainment, music and cuisine. The festival also honors outstanding members of the Los Angeles community and raises funds to aid needy children and families in the city. He hosted Los Angeles' eighth annual feast of San Gennaro from September 28 to 30, 2009.^[24] Kimmel served as Master of Ceremonies for the National Italian American Foundation's 34th Anniversary Gala in Washington, D.C., on October 24, 2009.

Awards[link]

References[link]

External links[link]

This article's use of external links may not follow Wikipedia's policies or guidelines. Please improve this article by removing excessive or inappropriate external links, and converting useful links where appropriate into footnote references. (October 2011)

Wikiquote has a collection of quotations related to: Jimmy Kimmel

• ABC Jimmy Kimmel Live website
• JimmyKimmel.Net
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Margaret Brennan was an anchor and reporter for Bloomberg television. ‘InBusiness with Margaret Brennan’ aired from 10 am-noon ET. The daily program focused on the global markets and the interconnection of Wall Street, Main Street and K Street. Since joining BTV in 2009, Brennan's reporting has brought her around the world for interviews with leading CEOs, investors and heads of state. She was the only Western journalist anchoring from Tahrir Square in Cairo as Hosni Mubarak stepped down after 30 years in power.

She has covered top breaking news stories including the bankruptcy of MF Global, the News Corporation hacking scandal and the sentencing of Galleon Group's Raj Rajaratnam, the largest insider trading case in U.S. history. Brennan also helped lead anchor coverage of Bloomberg's Republican presidential candidate debate.

After anger over the collapse of the Irish economy led to the biggest shift of political power in that country's history, she had an exclusive interview with Irish Prime Minister Enda Kenny during his first trip to the US. HRH Sheikh Mohammed bin Rashid Al Maktoum of Dubai and Crown Prince Hamdan al Maktoum granted her their first joint interview and discussed the emirate's sovereign debt crisis. Since coming to BTV in July 2009, Brennan has broadcast live from Riyadh, Dubai, Cairo, London, Dublin and Davos, Switzerland. Brennan also filed special reports from London and the Gulf Coast of the US during the BP oil spill.

Brennan joined Bloomberg Television in 2009 from CNBC, where she served as a general assignment reporter and contributed to MSNBC and NBC's "Today Show" and "Nightly News". She began her business news career in 2002 as a producer for financial news legend Louis Rukeyser.

Graduating with highest distinction from the University of Virginia with a bachelor's degree in foreign affairs and Middle East studies and a minor in Arabic language, Margaret Brennan was named an Emmerich-Wright Scholar for an outstanding thesis. As a Fulbright-Hays Scholar, she studied Arabic at Yarmouk University in Irbid, Jordan.

Margaret Brennan is a Whitehead Fellow with the Foreign Policy Association, serves on the Advisory Board of the Smurfit School of Business at the University College Dublin and the Junior Board of the Waterside School. She is a member of the Economic Club of New York. She speaks Arabic.

Irish America magazine named her one of the top Irish Americans and one of the top 100 Irish-Americans in business and in media. In 2003, she was named one of the top journalists under the age of 30 by the NewsBios/TJFR Group.^[1]

Personal life[link]

Brennan was born in Connecticut to parents Ed & Jane Brennan and attended Convent of the Sacred Heart in Greenwich, CT. She graduated with highest distinction from the University of Virginia in 2002. She received a B.A. in Foreign Affairs and was named an Emmerich-Wright scholar for an outstanding thesis. Brennan also received a B.A. in Middle East Studies with a minor in Arabic language. As a Fulbright-Hayes Scholar, Brennan studied Arabic at Yarmouk University in Irbid, Jordan.

Career[link]

CNBC 2002~2009[link]

Brennan began her business news career in 2002 at CNBC as a producer for financial news legend Louis Rukeyser. She wrote, researched and booked guests for the weekly "Louis Rukeyser’s Wall Street" program and primetime specials. Brennan later worked as a producer on "Street Signs with Ron Insana" for which she coordinated guest bookings and produced interviews with President George W. Bush and former Secretary of State Colin Powell.

Bloomberg 2009~2012[link]

On June 24, 2009, Margaret Brennan left CNBC to join Bloomberg Television to anchor the 10 a.m. hour:

"I'm going to be anchoring there, and hopefully expanding my reporting as well...It's a tremendous opportunity to join an already great team. My background and my interest is in international news. I'd love to tap into that. I've been covering the consumer and retail for a few good years now at CNBC....I think across the board, you can't separate the business stories from the international political stories any longer. Covering the global consumer, covering the global markets—all that is going to be a part of the canvas here." --Margaret Brennan,The Observer

Brennan transition from CNBC to Bloomberg in September 2009 ^[2]. On April 27, 2012, she hosted her last show of InBusiness. No reason was given for her departure, other than the choice to pursue new opportunities'. Scarlet Fu has been hosting InBusiness since.

Highlights[link]

Margaret Brennan was a General Assignment Reporter for CNBC. She has conducted newsmaking interviews with former Wal-Mart's CEO Lee Scott, Irish Prime Minister Brian Cowen and others. She broke the story of Circuit City's liquidation in 2009 and regularly covered changing consumer trends for the network.

Of Note[link]

She is a Whitehead Fellow at the Foreign Policy Association and on the Junior Committee for the Central Park Conservancy. She is also on the North American Advisory board of the Smurfit Business School at the University College of Dublin. Brennan also serves on the Junior Board of the Waterside School in Stamford, CT. She is a member of the Economic Club of New York.

Irish America Magazine named her as one of the top 100 most influential Irish Americans. She received the Fulbright Award for international understanding in 2010. She was named to Maxim's list of TV's Hottest News Anchors in 2008.

Quotations[link]

On January 4, 2012, Margaret Brennan was quoted in the New York Times:

“We in TV have turned the caucus into broadcast news’ version of ‘American Idol,’ ” Margaret Brennan, a morning anchor for Bloomberg TV, wrote in a Twitter message on Tuesday night. The tactic, she wrote, was to “make it feel like a breaking event and hope people watch.”

References[link]

External links[link]

• Official website for Bloomberg TV and Radio
• MarketWatch - Margaret Brennan is Bloomberg TV's Best Hope 9.23.09
• Bloomberg Television Personalities
• margaret brennan twitter

Nouriel Roubini

New Keynesian economics
Nouriel Roubini at the World Economic Forum Annual Meeting 2012
Born	(1959-03-29) March 29, 1959 (age 53) Istanbul, Turkey
Nationality	American
Institution	New York University
Field	International economics
Alma mater	Bocconi University (B.A. 1982) Harvard University (Ph.D. 1988)
Influences	John Maynard Keynes Hyman Minsky Larry Summers Jeffrey Sachs
Information at IDEAS/RePEc

Nouriel Roubini (born March 29, 1959) is an American economist. He anticipated the collapse of the United States housing market and the worldwide recession which started in 2008. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics, an economic consultancy firm.

The child of Iranian Jews, he grew up in Italy. After receiving a BA in political economics at Bocconi University, Milan and a doctorate in international economics at Harvard University, he became an academic at Yale and a practicing economist at the International Monetary Fund (IMF), the Federal Reserve, World Bank, and Bank of Israel. Much of his early research focused on emerging markets. During the administration of President Bill Clinton, he was a senior economist for the Council of Economic Advisers, later moving to the United States Treasury Department as a senior adviser to Timothy Geithner, who in 2009 became Treasury Secretary.

Roubini's critical economic views have earned him the nicknames "Dr. Doom" and "permabear" in the media.^[1] In 2008, Fortune magazine wrote, "In 2005 Roubini said home prices were riding a speculative wave that would soon sink the economy. Back then the professor was called a Cassandra. Now he's a sage".^[2] The New York Times notes that he foresaw "homeowners defaulting on mortgages, trillions of dollars of mortgage-backed securities unraveling worldwide and the global financial system shuddering to a halt".^[1] In September 2006, he warned a skeptical IMF that "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". Nobel laureate Paul Krugman adds that his once "seemingly outlandish" predictions have been matched "or even exceeded by reality."^[3]

As Roubini's descriptions of the current economic crisis have proven to be accurate, he is today a major figure in the U.S. and international debate about the economy, and spends much of his time shuttling between meetings with central bank governors and finance ministers in Europe and Asia.^[1] Although he is ranked only 512th in terms of lifetime academic citations,^[4] he was #4 on Foreign Policy magazine's list of the "top 100 global thinkers."^[5] In 2011, he was named by Foreign Policy magazine to its list of top global thinkers.^[6] He has appeared before Congress, the Council on Foreign Relations, and the World Economic Forum at Davos.

Early life and education[link]

Nouriel Roubini was born in Istanbul, Turkey, to Iranian Jewish parents.^[1] When he was an infant, his family lived briefly in Iran and Israel. From 1962 to 1983 he resided in Italy, especially in Milan, where he attended the local Jewish school and then the Bocconi University, earning a B.A., summa cum laude, in economics. He received his Ph.D. in international economics from Harvard University in 1988, where his adviser was Jeffrey Sachs.^[1] He is a U.S. citizen and speaks English, Persian, Italian, Hebrew, and conversational French .^[7]

Career[link]

For much of the 1990s, Roubini combined academic research with policy making by teaching at Yale and then in New York, while also being employed at the International Monetary Fund, the Federal Reserve, World Bank, and Bank of Israel. Currently, he is a professor at the Stern School of Business at New York University. Long study of emerging market blowouts in Asia and Latin America helped him spot the looming disaster in the U.S. "I’ve been studying emerging markets for 20 years, and saw the same signs in the U.S. that I saw in them, which was that we were in a massive credit bubble," he said.^[8]

By 1998, he joined the Clinton administration first as a senior economist in the White House Council of Economic Advisers and then moved to the Treasury department as a senior adviser to Timothy Geithner, then the undersecretary for international affairs, who in 2009 became Treasury secretary in the Obama administration.^[8]

Roubini returned to the IMF in 2001 as a visiting scholar while it battled a financial meltdown in Argentina. He cowrote a book on saving bankrupt economies entitled, Bailouts or Bail-ins? and launched his own consulting firm.

Role models[link]

He credits a number of economists for his understanding of economics. He said, "One person who has had a great impact on me intellectually was my adviser at Harvard, Jeffrey Sachs. For me he’s the model of a great intellectual. He is both a rigorous academic and very human, involved in big picture issues such as poverty, AIDS, and Africa. He’s someone with a great mind that is also very engaged with the world. Another intellectual hero is Larry Summers, the former President of Harvard, an amazing intellectual and academic, who is very deeply involved with the policy world. I worked for him for many years in the US Treasury during the Clinton Administration".^[9]

Global nomad[link]

He likes to refer to himself as a "global nomad", and says, "You can be sitting still surfing the Internet, and experience other worlds, ideas and societies. But I’ve found that there is nothing better than visiting a different country, even if for three days. ... you can’t only be a virtual Global Nomad, with goggles on, in a virtual reality. You have to be there. You have to see it, smell it and live it. You have to see people, travel, and interact."^[9]

Partly to fulfill this need, he became chairman of RGE, an economic consultancy for financial analysis. In describing the purpose of RGE Monitor, he said, "the world is my home, so everything about society and culture—no matter how miniscule—is worth knowing. I am an information junkie and created RGE Monitor to collect information about what’s happening around the world."^[9]

Speaking of his early influences, Roubini said, "I was born into a relatively orthodox Jewish family in Iran, lived in Israel and Turkey, and then moved to Italy as a child. By the age of six, instead of going to a yeshiva, I went to a secular Jewish school where I interacted with kids from all sorts of different backgrounds. Had I gone to an orthodox Jewish school, I would perhaps be orthodox now and may have never become a Global Nomad."^[9]

Personal investments[link]

During an interview in June 2009, he was asked about his personal lifestyle expenses and other investments. He said, "I regularly save about 30% of my income. Apart from my mortgage, I don’t have any other debts. The credit crunch hasn’t affected me much. . . . I’ve always lived within my means and, luckily, have never been out of work. I would say I’m a frugal person—I don’t have very expensive tastes. . . . You don’t need to spend a lot to enjoy things."^[7]

Asked whether he invests in stocks, he replied, "Not as much these days. I used to have a lot in equities—about 75%—but over the past three years, I’ve had about 95% in cash and 5% in equities. You’re not getting much from savings these days but earning 0% is better than losing 50%. . . . I don’t believe in picking individual stocks or assets. . . . Never invest your money as though you are gambling at the casino. Buying and selling individual stocks is a waste of time."^[7]

Economic forecast[link]

U.S. economy[link]

In the 1990s, Roubini studied the collapse of emerging economies. He used an intuitive, historical approach backed up by an understanding of theoretical models to analyze these countries and came to the conclusion that a common denominator was the large current account deficits financed by loans from abroad. Roubini theorized that the United States might be the next to suffer, and as early as 2004 began writing about a possible future collapse.^[1] Business Week magazine writer Michael Mandel, however, noted in 2006 that Roubini and other economists often make general predictions which could happen over multiyear periods.^[10]

In September 2006, he foresaw the end of the real estate bubble: "When supply increases, prices fall: that’s been the trend for 110 years, since 1890. But since 1997, real home prices have increased by about 90 percent. There is no economic fundamental—real income, migration, interest rates, demographics—that can explain this. It means there was a speculative bubble. And now that bubble is bursting." In the Spring 2006 issue of International Finance, he wrote an article titled "Why Central Banks Should Burst Bubbles"^[11] in which he argued that central banks should take action against asset bubbles. When asked whether the real estate ride was over, he said, "Not only is it over, it’s going to be a nasty fall."^[12]

By May 2009, he felt that analysts expecting the U.S. economy to rebound in the third and fourth quarter were "too optimistic".^[13] He expected the full recession to last 24 or 36 months, and believed in the possibility of an "L-shaped" slow recovery that Japan went through in The Lost Decade.^[14]

In his opinion, much of the current recession's cause is due to "boom-and-bust cycles," and he feels the U.S. economy needs to find a different growth path in the future. "We’ve been growing through a period of time of repeated big bubbles," he said. "We’ve had a model of 'growth' based on overconsumption and lack of savings. And now that model has broken down because we borrowed too much." He feels that too much human capital went into financing the "most unproductive form of capital, meaning housing" and would like to see America create a model of growth in more-productive activities. He feels that "sustainable growth may mean investing slowly in infrastructures for the future, and rebuilding our human capital," by investing in renewable resources. "We don’t know what it’s going to be," he says, "but it’s going to be a challenge to find a new growth model. It’s not going to be simple."^[15]

Recovery from recession

In August 2009, Roubini predicted that the global economy would begin recovering near the end of 2009, but the U.S. economy is likely to grow only about one percent annually during the next two years, which is less than the three percent normal "trend."^[16] He noted that the Fed is "now embarked on a policy in which they are in effect directly monetizing about half of the budget deficit," but that as of now "monetization is not inflationary," as banks were holding much of the money themselves and not relending it. When these attitudes reverse at the end of the recession, that would be time for an "exit strategy, of mopping up that liquidity" and taking some of the money back out of circulation, "so it doesn’t just bid up house prices and stock values in a new bubble. And that will be 'very, very tricky indeed,'" he stated.^[15]

Also, in late July, he warned that if no clear exit strategy is outlined and implemented, there was the potential of a perfect storm: fiscal deficits, rising bond yields, higher oil prices, weak profits, and a stagnant labor market, which combined could "blow the recovering world economy back into a double-dip recession."^[16]

Global economy[link]

2006[link]

In 2006 Roubini predicted that Italy, and possibly a series of other eurozone countries (Portugal, Spain, Greece) might have to exit the eurozone if they did not implement "serious economic reforms." " [It] is not a foregone conclusion but, if Italy does not reform, an exit from EMU within 5 years is not totally unlikely. Indeed, like Argentina, Italy faces a growing competitiveness loss given an increasingly overvalued currency and the risk of falling exports and growing current account deficit. The growth slowdown will make the public deficit and debt worse and potentially unsustainable over time. And if a devaluation cannot be used to reduce real wages, the real exchange rate overvaluation will be undone via a slow and painful process of wage and price deflation."^[17]

2009[link]

As of January 2009, he remained pessimistic about the U.S. and global economy. He said in September, 2008, "we have a subprime financial system, not a subprime mortgage market".^[18] "As the U.S. economy shrinks, the entire global economy will go into recession. In Europe, Canada, Japan, and the other advanced economies, it will be severe. Nor will emerging market economies—linked to the developed world by trade in goods, finance, and currency—escape real pain."^[19] He was quoted in South Africa's 2009 budget speech for his role in predicting the current financial crisis in the developed markets.

Roubini notes that the subprime issues are a global, and not just a U.S. problem. In an interview with author James Fallows in late spring of 2009, he stated, "People talk about the American subprime problem, but there were housing bubbles in the U.K., in Spain, in Ireland, in Iceland, in a large part of emerging Europe, like the Baltics all the way to Hungary and the Balkans. It was not just the U.S., and not just 'subprime.' It was excesses that led to the risk of a tipping point in many different economies."^[15]

His pessimism is focused on the short-run rather than the medium or long-run.^[1] In Foreign Policy (Jan/Feb 2009), he writes, "Last year’s worst-case scenarios came true. The global financial pandemic that I and others had warned about is now upon us. But we are still only in the early stages of this crisis. My predictions for the coming year, unfortunately, are even more dire: The bubbles, and there were many, have only begun to burst".^[19]

At a conference in Dubai in January, 2009, he said, the U.S. banking system was "effectively insolvent." He added that the "systemic banking crisis.... The problems of Citi, Bank of America and others suggest the system is bankrupt. In Europe, it’s the same thing."^[20] To deal with this problem, he recommends that the U.S. government "do triage between banks that are illiquid and undercapitalized but solvent, and those that are insolvent. The insolvent ones you have to shut down." He adds, "We're in a war economy. You need command-economy allocation of credit to the real economy. Not enough is being done," he felt at the time.^[21]

2010[link]

In 2010, he again warned that despite an improved economy with rising stock markets, the crisis was not over and new bubbles were on the horizon:

"We are just at the next stage. This is where we move from a private to a public debt problem . . . We socialised part of the private losses by bailing out financial institutions and providing fiscal stimulus to avoid the great recession from turning into a depression. But rising public debt is never a free lunch, eventually you have to pay for it."^[22]

In late May 2010, markets around the world began dropping due partly to problems in Greece and the Eurozone. "Roubini believes Greece will prove to be just the first of a series of countries standing on the brink," writes the Telegraph.^[22] Roubini explains the new issues governments must deal with:

"We have to start to worry about the solvency of governments. What is happening today in Greece is the tip of the iceberg of rising sovereign debt problems in the eurozone, in the UK, in Japan and in the US. This... is going to be the next issue in the global financial crisis."^[22]

China

Roubini met officials in China during spring 2009, and points out that many Chinese commentators blame American "overborrowing and excess" for dragging them into a recession. However, he states that "even they realize that the very excess of American demand has created a market for Chinese exports." He adds that although Chinese leaders "would love to be less dependent on American customers and hate having so many of their nation’s foreign assets tied up in U.S. dollars," they’re now "more worried about keeping Chinese exporters in business. . . . I don’t think even the Chinese authorities have fully internalized the contradictions of their position."^[15]

2011[link]

Roubini and political scientist Ian Bremmer have described the 21st century world as fragmenting economically and politically, where the "old models of understanding global dynamics are struggling" to keep up with rapid changes. In an article in Foreign Affairs magazine, they describe what they call a "G-Zero world," where the United States no longer has the resources to continue as the primary provider of global public goods. As a result, there is likely to be more conflict than cooperation between countries, creating a "zero sum game," a "game in which my win is your loss." They explain their rationale:

"Europe is fully occupied for the moment with saving the eurozone. Japan is likewise tied down with complex political and economic problems at home. None of these powers’ governments has the time, resources, or domestic political capital needed for a new bout of international heavy lifting. Meanwhile, there are no credible answers to transnational challenges without the direct involvement of emerging powers such as Brazil, China, and India. Yet these countries are far too focused on domestic development to welcome the burdens that come with new responsibilities abroad.

"We are now living in a G-Zero world, one in which no single country or bloc of countries has the political and economic leverage—or the will—to drive a truly international agenda. The result will be intensified conflict on the international stage over vitally important issues, such as international macroeconomic coordination, financial regulatory reform, trade policy, and climate change. This new order has far-reaching implications for the global economy, as companies around the world sit on enormous stockpiles of cash, waiting for the current era of political and economic uncertainty to pass. Many of them can expect an extended wait."^[23][24]

Writings[link]

Roubini is the author of several books, including:

• Crisis Economics: A Crash Course in the Future of Finance
• Bailouts or Bail-ins? Responding to Financial Crises in Emerging Economies^[25]
• Political Cycles and the Macroeconomy^[26]
• New International Financial Architecture^[27]

Other writings include:

• Europe’s Short Vacation^[28]

Research[link]

Roubini's research interests include:

• international macroeconomics and international finance;
• macroeconomics and fiscal policy;
• political economy;
• growth theory;
• European monetary issues.

Current appointments[link]

• Research Fellow, National Bureau of Economic Research
• Research Fellow, Centre for Economic Policy Research, London, UK
• Member, Bretton Woods Committee
• Member, Council on Foreign Relations Roundtable on the International Economy
• Member, Academic Advisory Committee, Fiscal Affairs Department, International Monetary Fund

References[link]

External links[link]

Wikimedia Commons has media related to: Nouriel Roubini

Wikiquote has a collection of quotations related to: Nouriel Roubini

• Nouriel Roubini official website
  • Global EconoMonitor
• Economic Doom blog
• Nouriel Roubini on Twitter
• Who is Roubini?
• Nouriel Roubini at Stern School of Business, New York University
• Profile at Leigh Bureau
• Column archive at Project Syndicate
• Video: Roubini's predictions for 2009 on YouTube