you may be surprised to find that out as well from nouriel roubini, the founder of roubini global economics. let's go to pierre right now. you put $28 billion on the line every day. you've had a great track record. you're up 7% last year. you were up in august when europe started to fall apart. clear clearly, you have a good eye on the global marketplace and you cast that eye on europe almost every single day. what do you make of what's happening here as our markets try and assess that as well? >> i think what you see is the market wants you to take step, most people are not good at, which is macro. it could have been equity stock picke pickers. in europe, huge correlation with the macro event. for me et cetera a matter of staying out of trouble. a lot of things you're talking about are unrealizable right now. the whole game is really to stay out of some of these markets. there's a lot of other things to do in the meantime that people are overlooking because everybody is so scare of what's happening in europe. >> yeah i don't want people to get the wrong idea and think that you're solely fo

nouriel roubini says why the market will be thawing out this month. you're watching the "closing bell" on cnbc, first in business worldwide. >>> i am confident that we're on the right path, and we continue to see gains in areas like manufacturing, leisure hospitality, professions in business. and also in health care. >> the one thing that i think is interesting here is social security disability benefits, which have been soaring in the last few years. if you're on disability, if a government calls up and says, i'm looking for a job, no, no, my back's out. if people are moving from unemployment benefits to social security disability benefits, that may be whittling out at the unemployment rate. >> market is now looking at the u.s. to be the primary driver of global growth. europe is still a basket case. when you see the 200,000 for the next three, four months, the rallies are sustainable. >> as far as unemployment rate, and participation rate, the market's not looking at that as much as just job creation of the we don't necessarily how to interpret exac

you have jack very optimistic, roubini pointing out the risks. where do you sit? >> i guess i kind of stand in the middle. one thing that people keep talking about is this sort of deja vu feeling between 2012 and 2011. so many of the market and economic indicators have this feeling lirke, oh, we've been here before, self sustaining recovery is real and then it all sloes down. but as jack pointed out, there is incredibly deep seeded skepticism and that is the kind of environment it seems like where markets could move higher. so there are certainly concerns, but we've been hearing these concerns for years and ultimately it seems like the market keeps powering through them. >> that's a good point. a lot of people saying as you said in the camp we've seen this story before and we don't want to get back into the cycle, yet you have the other bulls like jack who are saying -- >> yeah, there are always problems. you can always trukt -- the u.s. problems haven't really ever gone away since the bottom of the market in 2009. you can always cite risks. always gas prices and

. >> tom: shelley goldberg is the director of global resources and commodities strategy at roubini global economics. >> shelley, french government minister says that france, itain and the u.alk about releesing strategic reserves. we've heard that before. if you believe it, would it help? >> well, you're absolutely right. we have heard it before, and frankly, no one has commited to this yet. there is talk that it could just be rhetoric to push down price that is are currently quite high. now typically, release of strategic reserves is done in a time of war, in time of a major crisis. it happened in lib ya, and people could say that was a vil war. right now we're no faed with war, and the u.s. hasn't said nor has france said they're going to do it. we think it won't happen, but you have to look further into the geopolitical risks driving the market. >> tom: you heard the talk about possible shortages of gasoline. do you believe that this summer with refinery shut downs? >> well, gasoline demand has come off. as you note crude prices have come off again today because of an injection of 7.1 m

roubini should know that a word about dr. roubini he keeps predicting over and over everything bad.f you go back to his 2009 writings on the day the market bottomed you would have been out of the market and you wouldn't have had a single dollar recovering with this wonderful expansion that we've had. so dr. roubini has to be a little careful. jenna: we'll see, mark, because that's now. if things get much worse maybe he would have been right with predictions in 2009. that is tough about predictions. we're seeing a whole bunch of earnings reports come out from companies, that is like their report cards. you can sift through them and see what things look like. what are they telling you? >> the thing about forecasting and predicting future is this, nobody can do it. that is what is so dangerous to investors. a big part of my job is to protect main street investors from prognosticators and forecasters to piggyback on what pat said, roubini said stock market bulls have got it wrong in april 2009, right after he said that, the s&p is up 90%. small stocks are up 100%. and emerging market st

section is it time to get teen the banks and then i want to turn to mainstream economist nouriel roubini here and he was asked by bloomberg news should bob diamond should he face criminal charges and here's what he had to say that those some criminal sanction. happened again i'm one who should occur because no one is going to enjoy it since we don't use it for any of these things the banks. the slap on the funny some people end up in jail maybe. somewhere somebody hanging in the streets well that's that's the thing isn't it it doesn't make any sense to talk about policy initiatives or whether we should have keynesianism of austerity whether with inflation or deflation you've got entrenched group banks stores that are destroying the system by stealing money whether it's bob diamond or jamie diamond or any of these people we've talked about the past they they're just stealing the money so you know nuria roubini is a professor done a lot of work over the years studying books you know we want is he wants to give us opinion as a. academic but he's stifled because what's the point that it's ju

to manage a ball on the bags and you can see the full interview with no roubini or monday here on or to list check exchange rates the euro is losing against the dollar on the eurozone news and the russian ruble is once again retreating against both major currencies russian markets are following the world situation crude is heading for its longest we losing streak which isn't helping the situation you longest losing streak in more than thirteen years for the price now that's on the generally bad global situation also speculation the economies of china and the u.s. will slow down on falling demand. friendly from france's. has been negotiations for a long time and has been aggressively moving into new markets in february it's agreed to buy from austria as volkswagen and police have started a case against the so-called twenty eleven ponzi scheme scam game of road he says this time is different because the website now admits it's a ponzi scheme but courts only stepped in when a sochi man committed suicide at the weekend after losing all his money in the ninety's up to fifty million dollar

next hour on r t economist nouriel roubini tells us where the euro zone's financial woes could ultimately lead the union and the global economy. that it's openly agrees that the situation could become these or that in the eurozone like at these all of the early the fall tonight by getting is that contains only iran on the banks who made claims and then was market box there are some that they have and should have put a stop to the bad side and that's not something we should know the fury of on the line they also i guess of the eurozone in which case the eurozone you know. you could i bet significant european and the global you know financial totem all of them then you could end up like japan we would all times like a nation of another depression it's a risk. the u.s. military has admitted to mistakes committed during its wars in iraq and afghanistan a recent report written by the pentagon says strategic leadership repeatedly failed in its training and policies but for more analysis on this we're now joined by hard dorrance freeman from executive intelligence review magazine with us on the

american economist nouriel roubini tells us why europe's debt ridden states can't all be tarred with the same brush. sometimes people tend to say the eurozone problem is because of lack of fiscal discipline or fiske of reckless there's that applies really the only only degrees c. has to lie then. that is of fifteen percent of g.d.p. . deficit and then that led to the fiscal crisis that actually in spain in the island was the product cycle that eventually led to the problems of having to bail out the banks large deficit the greater the fiscal problem was on the fiscal problem the first place. so you cannot generalize there are different types of cries within the eurozone. the u.s. supreme court is refusing to hear an appeal filed by seven the guantanamo bay prison is being locked up for lengthy periods without even being charged that's despite of president obama's of actual promise to close in the tourist facility for good and the worthington author of the guantanamo files believes such an approach makes a mockery of the entire used justice system. for the last two years and particula

section is it time to get seen the banks and then i want to turn to mainstream economist nouriel roubini here and he was asked by bloomberg news should bob diamond it should he face criminal charges and here's what he had to say do you think that those i'm going to like. that going to get some time one issue to grow because no one is going to enjoy to know what i'm struck by the use of foreign. you know these things the banks the. best the slow. and funny some people end up in jail maybe. some somebody hang in the streets well that's that's the thing isn't it that it doesn't make any sense to talk about policy initiatives or whether we should have keynesianism of austerity whether with inflation or deflation you've got entrenched group of banks terms that are destroying the system by stealing money whether it's bob diamond or jamie diamond or any of these people we've talked about in the past they they're just stealing the money so you know it nuria roubini is a professor done a lot of work over the years studying books you know that we want is he wants to give his opinion as an academic

we're at this hour an hour to american economist nouriel roubini tells us why europe's debt ridden states can't all be tarred with the same brush. sometimes people tend to say the eurozone problems because of lack of his called the visibly in office gov reckless those that applies really the really only degrees you know it's a lie then. that is the fifteen percent of g.d.p. . that is it and then that led to the fiscal crisis that actually in spain in the island was the private side of that eventually led to the problems of having to bail out the banks large that is that great of a fiscal problem was not with his core problem the first place. so you cannot generalize there are different types of crisis within the eurozone. the u.s. supreme court is refusing to herit appeal filed by seven kuantan of bay prisoners who were being locked up for then three periods without even being charged but despite president obama's election will promise to close the tourist facility for good and the worthington author of the kuantan of files believes such an approach makes a mockery of the entire us justic

later this hour on r t american economist nouriel roubini tells us where the eurozone financial woes could ultimately lead the union and the global economy. there is certainly a risk the. situation could become disorderly in the euro zone like a desirable e. default an exit. contagion with iran on the banks he made. his mark of and then they eventually have that is that after the event that's not appreciably a few years down the line they also exit the euro zone in which case the euro zone you know breaks up and you could have a significant european and a global financial turmoil and then you could end up like japan with a long term stagnation if another depression of interest. israel's to telling dozens of african migrants in the first stage of a leadership plan there to deport over four thousand people eventually from the country itself the government initially welcomed the refugees who were trying to escape violence in the home and because of his policy or found they face further strife if they return home. i thought that even though the sudanese are a cancer in our body the will

internationalist agenda because what we've seen is that there is not an agreement i think nouriel roubini was saying that g. seven has become irrelevant when we're looking at zero because no one can agree on anything so when we're looking at things from this level in perspective i think it's done but at the same time everything is really tied together the financial system is really tied together so if one country does something other countries are affected and they you know protest it or have to be on board in order to really get it achieved certainly important to have all these countries come and sit at the table together but not so much if it's just going to be too many cooks in the kitchen. and nobody having sort of a unified front that's davos this agreement with greece with the euro zone was supposed to happen this week and hasn't happened yet predictions really quick on the next twenty four hours are really not an expert i talked to a lot of experts but i mean my prediction is that nothing big is going to happen i mean that's what we've seen more of that just after being in davos it

and you can watch the full interview with the roubini all monday you want to know that's the business for this all right and all his remarks and before the sunday looking forward to morning is next hour and in just a few minutes here on our t.v. we're bringing a fiery debate show cross talk for that you may have weinstein. well . it's technology innovation all the developments from. around rush we've got the future covered. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything you thought you knew you don't know i'm charged with the big picture. while back you are without a reminder of the top stories the u.n. are just both the syrian regime and the rebels to lay down arms to prevent a country from sliding into a full scale civil war as calm as you have observers are said to visit the side of the latest massacre near the city of hama. a day for european football as the two thousand and twelve get set to start a fair play has been dealt a blow with boycotts ove

plus, nouriel roubini with his predictions for the euro.to miss what nouriel has to say about that. back to you. >> good stuff. can't wait. thanks a lot. >>> meantime, dean foods, leading dairy provider hitting a two-year high this morning after reporting first quarter earnings that beat estimates by ten cents. shares of dean foods 14.01. one of the best performer on the s&p today. out performing the s&p this year. it was one of the worst performers in 2010. here for his first television interview in more than a decade, the company's chairman and ceo gregg engles is teaking to us from dallas. gregg, ten years, a long time to wait but glad you came back. welcome back. >> i'm grad to be back. i didn't realize i had been away that long. >> you get busy from time to time. >> absolutely. >> i was sbre interested to hear that from a stabbed point of the investor a lot of investors you think still think the company covers -- or makes jimmy dean sausage. maybe not as much recognition about the name as there could be. >> yes. you know, we have three

john lyons of savills and arnab das of roubini. lot of markets flat-lined and part of that is because the investors are holding out. that's going to be bank's earnings numbers and agricultural bank of china is going to kick off the earnings of the big four starting in china tomorrow. plus we've got hsbc's flash numbers so we'll perhaps be able to get a glimpse of exactly where the slowdown is, given that there's been a lot of reverberations as to how quickly china is slowing down. alzheimer's you can see, more losses coming through in our key markets. korea down three quarters, australia down a half. the other is rallying by 1.7%. we've had quite a bit of weakness in japan and also greater china, flat-lining there. although the h index seems to be reflecting quite a bit of weakness, becky. >>> in the european markets after a weak day yesterday, we're looking at gains. 9.2% higher for the ftse, the french market is up by nearly a half a percent but the ftse across italy has turned a fraction lower. jackie. >> thanks for that, becky.

maria's special interview, nouriel roubini will be right here to get his global forecast in the 4:00. hour of the "closing bell." >>> welcome back. bob pisani down on the floor of the new york stock exchange. small gains on the day. really small gains on the week. unchanged on the s&p 500. the big day today, of course, nonfarm payrolls, the 8:30 jobs report, look at the dollar index spiking on the upside. normally you would see the euro go to the downside, and that's exactly what happened. these are interday charts. rest of the market held up very well. generally we had material stocks hold up very well. on days like today, typically that doesn't happen. the volatility index, there it is. here's the whole week. essentially we're largely unchanged, despite the big spikeup we saw on tuesday on concerns about some slowing global growth. markets didn't react very well to the gdp. cooler heads prevailed and realized that's going to be a soft landing for china. they'll likely have something close to an 8 or 9 handle. bottom line, it's been a fairly good week overall. china soft landing, eu

gina sanchez from roubini global economics is still with us.s we look beyond europe to the rest of the world, and some of the growth problems we're having, i wonder if we're overlooking slowing in brazil, china and the degree to which that complicates efforts to get growth back in the eurozone. >> yes, although i would say there's a little more reverb rags from the eurozone to china and that's part of what's causing that problem because china is so export-driven. that does certainly -- you see that in the headlines. what you don't see in the headlines is the slowing of the rest of the yen as well. folks have very kernconcerned a china, but you're right they should be more concerned about the general cooling of the rest of emerging markets. they've gone from a v-shaped rove and now paring that back. not a recession just slowing. we're in a general slowing environment all around the world, where growth is becoming more and more scarce. >> what would you pin that down to? eurozone or the u.s. more? and they haven't been able to develop their own d

nouriel roubini said italy may not have to go into oil resistance program but here we are with spain. technocrat government being formed but an election due by april, or some point they have to agree on an election date. where is italy right now? where does it leave this country with sort of the political uncertainty and trying to initiate what a quite dramatic reforms? >> you know, election is part of a worldwide issue. we had election in france. we had election in greece before. we're having election in u.s. italy will come next. you have germany and all the other countries that follow suit. so, this is a natural milestone which is mixed around the world. so every six months you have a crucial country going to electric. what italy is concerning -- about italy what it means would italy be able to continue on the path which has been designed by the current government. what i think has happened with the action of the current government, they really showed a line. they showed a value into rigor, into austerity because italians took austerity, i would say in a good way, but without rejec

is it meets but it was roubini and read here scoring the games for. alexander resound seventy minutes one window here surface a mock five minutes after the break. saying no no we're going to get back into this game he does the blistering shot to on routine but then on three or shaaban he's having a stormer since return from arsenal he scored sixty eight minutes in to two meetings in each on beaten run stretches back to september from last year thirteen points and from two games to goes in. the final game all of their championship groups and i'm sure the points in crusts that are this was to know who else for of course. it's a twelfth of the season but this was two to stay fifty two if after igor all miss is. now in the bottom half of the table to figure. out of relegation territory thanks to a draw away to. help their cause to stave off the playoffs for the three. car they shared the points in this season the bottom two sides are automatically relegated with the next. thing at odds with the third and fourth placed teams in the first division team hope

economy back into recession and break up the eurozone that's according to a new real roubini also known as dr doom now he says the factors involved not only the crises in the u.s. and in europe but also the economic slowdown in china and the potential military conflict with iran now the warning sign of the coming storm is the freefall in the political situation in europe that we're seeing right now is according to steven jacobson from sex. i think what has happened since the first quarter is really that the political situation is getting out of control and that's industry many important for both the market and the outlook you just talked about because really in my opinion free individual pieces to to a crisis there is the economic situation which is just getting from bad to worse then there is a flip the situation which is moved into a freefall in my opinion and then you have to start might get an evaluation of the start market to some extent is only natural that when you have no head tell when in the economic situation then clearly you will need to see valuations come down you can only

like everybody is george soros there are a lot of guys in suits that are not big like they're not roubini they're guys in suits chattering about oh i had this good meeting with so and so so maybe that's it maybe this is a good place to do business deals maybe policy doesn't come out of it maybe it does we have seen some historical agreements that actually have also angela merkel i thought was interesting at the end of her opening remarks she said that it's important for politicians like herself to get input from all of the people that are i davos and as you mentioned a very elite group of people that are mostly financial so i think that it does play a role and laura very briefly we talked about income inequality but last year we saw joseph stiglitz wife talk about sort of the inequality within the ranks of doll those with a different colored a name tag where the wives and the journalists and even the prostitutes or the send down on this cape town are all sort of stratified by these color coded tags can you talk a little bit about that any interesting insight. yeah the first thing that i'v

with the headlines in a few minutes but first start his interview with a man dubbed dr doom nouriel roubini after he predicted the two thousand and eight financial crisis stay with us. thank you very much for your time in two thousand and six you predicted that there would be a deep economic crisis and six years later we're still in it now did you expect it to last so long that it would be so deep. in the beginning or maybe there's light at the end of the tunnel and the krises morphed into thousand and six was a problem of too much leverage of the private sector how's olds buying sponsored institutional corporates now as a result of their response or their cries is scott's theme of those bailing out banks and others over their massive surgery in public that then that sits and now there is a risk of contraries as opposed to individuals are bangs going bad contests are being solved in greece going to fall the thing as already happened in greece and unfortunately when you have to watch privately in public that it takes a long time up to a decade or to do the leveraging good means. to save more

and an interview with an economist nouriel roubini as our hats but before that i'll be back with headlines. comfort is the least you have. your money is the last you need to if you travel this way. language is common ok you keep. the. emotions are intense. and. i'd experienced crisis. the. preamble before. give him a note so we have a lot of. groups of the cultures and. also our views in the writing of my marriage was like man yeah it wasn't. just maddy when i was fourteen yes you can liberate other women and you certainly can't do it through the barrel of a gun only effective social changes can be the afghans themselves afghan men and women we believe are going to stand up to the cross part of. the part of. its chemical position and that it comes to actually stop people in the obama administration talking about how much they care about the women of afghanistan it's not true they don't care about the women of afghanistan. download the official placation to i phone on pod touch from the i.q. exams to. one jaunty life on the go. video on demand all teens mind broadcasts and already says feed

people to participate in the zero interest bearing gaming economy but there's no economic activity roubini was at davos he uttered some platitude nonsensical claptrap related nonsense about how this was going to happen that was going to happen but all of his utterances are based on an economic model that is now obsolete but what did happen was that you had internet traffic which got ad revenues generated from people who are basically training at a gaming currency called the euro or the facebook credit or the hollywood dollar which is the one i created back in the mid ninety's except for well talk about chutzpah the co-chair of the world economic forum last week was a victim panned it the head of citi group who saw the company become a ward of the state essentially larry summers who destroyed the financial system was almost single handedly responsible for it he was there saying well capitalized it needs to be formed why don't i take over it now this psychopathic economics dot com says the clowns don't even know or are psychopathic enough not to admit that we don't have capitalism if we had

speculating whether it will exit the euro zone or annoyance and we've been talking to professor in the real roubini and he of course is the man who predict the financial crisis of two thousand and eight and he says the probability of the so-called gregg's that as we've come to know it will remain quite high and the outcome of the parliamentary elections will be. i would say that you know by the next theater i would say that is at least probably greece exiting the euro zone thinking about it surely even if they like not into a new government there's another try to form an all next edition of the company so since then little of that they will exit and i would say that it could be good for them as long as the exit is all of them that. means that then there are mosques in the shown that axworthy called the that are sort of good old. ballance of who could be damaged the banks damage the savings of people in the banks and that's why they need more funding to make sure that it isn't all disorderly metal and the contagion of the rest of the eurozone isn't all there so it does not make you see it that way a