Nouriel Roubini to Michael Milken: 'We May Be Dead in the Short Run'

Nouriel Roubini
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Nouriel Roubini

It’s become an annual ritual at the Milken Institute Global Conference: Nouriel Roubini faces off with Michael Milken.

Milken is perpetually bullish on America, confident that our challenges can be overcome through innovation and market processes.

Roubini, well, he’s Doctor Doom.

The two met onstage Wednesday morning before a completely packed ballroom. Late-comers were turned away at the door. It was probably one of the most popular panels of the conference.

Roubini began with an uncharacteristic optimism, quickly rattling off a series of “upside risks” to the global economy: a global economic recovery, an asset price recovery, booming emerging markets, technological progress and ongoing globalization.

Then it was time for the bad news.