Davos WEF
Davos WEF

Roubini's sense of doom is running high amid Trump's 'inconsistent' policy mix

Roubini: Fiscal policies don't make sense
Roubini: Fiscal policies don't make sense

Nouriel Roubini, the economist often known as "Doctor Doom," believes that President-elect Donald Trump's policy mix doesn't make sense and will likely hurt manufacturing and lead to job losses.

"The market is going higher but think about his (Trump's) economic policies ... His sense of policy doesn't make sense," Roubini told CNBC at the World Economic Forum in Davos.

Nouriel Roubini at the World Economic Forum in Davos, Switzerland.
David A. Grogan | CNBC

Roubini explained that Trump's proposed fiscal stimulus and lower taxes would lead to higher long-term interest rates and a further strengthening of the dollar, which would, in turn, hurt manufacturing.

"The supply-side trickle-down economic policies, they are not going to help the white working class," he added. "A strong dollar is going to force him to become even more protectionist and bash globalization, trade and migration."

The rise of the dollar based on the Federal Reserve model is going to lead, over the next year and a half, to 400,000 jobs lost being lost in manufacturing, Roubini claimed. He added that any attempts by Trump to talk down the currency would ultimately fail due to the fundamentals driving the dollar.

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