Noriel Robini was the only economist who predicted the mortgage crisis in 2008, and he became famous after that.
10 major risks
Robini believes that the world is going through a stage fraught with many risks and instability, noting that there are 10 major risks that threaten the global economy, financial assets, individuals savings and wealth, in addition to threatening the global peace state that spanned about 75 years.
Robini explained in an interview with the economy of Sky News Arabia, on the sidelines of the Abu Dhabi Financial Week, that the risks can be summarized as follows:
Robini emphasized the existence of a state of political and social instability in countries that suffer economically, as well as inequality in wages and wealth, environmental risks, climate change, health, and technology.
Robini said that these mucus are intertwined with each other and feed on each other, and therefore the meeting of these risks not only threatens the world or economy and financial markets, but also threatens the existence of the human race as he put it.
Benefit and enlargement ..
and stagnation
On cash risks, Robini explained that central banks follow strict monetary policies that include raising interest rates in light of the high inflation, but that increased interest can cause economic stagnation and high unemployment rates.
He stressed that the current global recession will not be light or short, but harsh and long, due to the dangers of inflation and stagnation, and the debt crisis resulting from the highly high interest.
Robini strongly warned of the possibility of a hot war, saying that the coming period is similar to the dark years that humanity has gone through between 1914 and 1945.
“The war in Ukraine can escalate to an unconventional war in which NATO is involved, and” Cold War “between the United States and China can lead to more differences, or reach the disintegration of the global economy and globalization, and affects global supplies chains “The famous economist added.
In an answer to a question whether the countries are heading towards a new global system, he stressed that the design of the new global system must be shared by all countries, and that it is based on a more stable economic, financial and critical system.
Investing in encrypted currencies “foolish”
Robini attacked everyone who invests in encrypted currencies, saying: “She does not have any real value because nothing supports her, and her market is witnessing many fraud and criminality.
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He described those who invest a single year in the cryptocurrencies as a fool “even if his investment is in organized currencies. ”
He pointed out that the collapse that took place on the “FTX” platform, which was one of the largest trading platforms in the world, shows that “there is no safety in encrypted currencies” as he put it..
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