“I can calculate the movement of the stars, but NOT the madness of men.”
- Sir Isaac Newton, after losing a fortune (£20,000) in the South Sea bubble.
I’ve been meaning to write about the impending real estate crash for quite some time, but until I get around to it, this piece is worth a read. Roubini is a Professor of Economics at the Stern School of Business at New York University, and the work below is taken from his blog. Though the prose is somewhat awkward, anyone who produces “seminal work in international macroeconomics, global macro policies, financial crises in emerging markets and their resolution, and the reform of the international financial architecture” deserves at least a few …