| |
 |
|
|
Finance & Stock Groups Forum Index » Stock Investments » Dr. Doom
Page 1 of 1
|
| Author |
Message |
| Don Tiberone |
 Posted: Sun Aug 17, 2008 6:54 pm |
|
|
|
Guest
|
http://www.nytimes.com/2008/08/17/magazine/17pessimist-t.html?_r=1&oref=slogin&pagewanted=all
The ’90s were an eventful time for an international economist like
Roubini. Throughout the decade, one emerging economy after another was
beset by crisis, beginning with Mexico’s in 1994. Panics swept Asia,
including Thailand, Indonesia and Korea, in 1997 and 1998. The
economies of Brazil and Russia imploded in 1998. Argentina’s followed
in 2000. Roubini began studying these countries and soon identified
what he saw as their common weaknesses. On the eve of the crises that
befell them, he noticed, most had huge current-account deficits
(meaning, basically, that they spent far more than they made), and
they typically financed these deficits by borrowing from abroad in
ways that exposed them to the national equivalent of bank runs. Most
of these countries also had poorly regulated banking systems plagued
by excessive borrowing and reckless lending. Corporate governance was
often weak, with cronyism in abundance. |
|
|
| Back to top |
|
| J. |
| Posted: Mon Aug 18, 2008 11:58 am |
|
|
|
Guest
|
Hmmmm, sounds like some country I know.
J.
"Don Tiberone" <s_knight8@my-deja.com> wrote in message
news:91349acf-e8dc-4304-9eed-a0e073d0071d@t54g2000hsg.googlegroups.com...
http://www.nytimes.com/2008/08/17/magazine/17pessimist-t.html?_r=1&oref=slogin&pagewanted=all
The ’90s were an eventful time for an international economist like
Roubini. Throughout the decade, one emerging economy after another was
beset by crisis, beginning with Mexico’s in 1994. Panics swept Asia,
including Thailand, Indonesia and Korea, in 1997 and 1998. The
economies of Brazil and Russia imploded in 1998. Argentina’s followed
in 2000. Roubini began studying these countries and soon identified
what he saw as their common weaknesses. On the eve of the crises that
befell them, he noticed, most had huge current-account deficits
(meaning, basically, that they spent far more than they made), and
they typically financed these deficits by borrowing from abroad in
ways that exposed them to the national equivalent of bank runs. Most
of these countries also had poorly regulated banking systems plagued
by excessive borrowing and reckless lending. Corporate governance was
often weak, with cronyism in abundance. |
|
|
| Back to top |
|
| |
|
Page 1 of 1
All times are GMT
The time now is Wed Jan 07, 2009 7:13 pm
|
|
|