nouriel roubini a -- nouriel roubini is there and we ask what the best ideas to emerge from the summitthus far. situatione are in a that is the new mediocre. it is anemic and you have to work along many parallel lines. countries have to do structural reform to increase productivity and potential growth. but in most advanced economy, there's a slack in the labor market and a lack of aggregate demand. there is a debate ongoing any policy community about whether that should be occurring mostly through monetary policy and it has become unconventional like negative rates or whether there is room for fiscal policy. the pace ofbe fiscal consolidation was loaded. >> where are we on greece? they are closer to a deal with the imf. what's the conversation in the hallways like in dresden? how close is greece to striking a deal? the greeks are not here in dresden because it is a g-7 summit. hopefully greece will be one of the matters finance ministers will be discussing. the two sides are moving in the right direction. first of all, there's a dialogue and a proposal on both sides. there are differe

joying me now for his take on this market and many more here in a cnbc exclusive is nouriel roubini, good being with you. >> you have said we shouldn't necessarily read into these art prices as some kind of asset class. this is frankly money laundering. >> in some cases, there have been cases in which art has been use as money laundering or tax evasion. what i'm saying is that this asset price is high for art becoming an asset class, many asset prices are too high. you have 2 trillion to $3 trillion equivalent of government bonds. equities are expensive, real estate is expensive, credit is expensive. >> a different kind of money laundering. is this the only asset class where you see evidence that people are using it for ill and that we shouldn't be looking at the prices themselves as indication of markets, you know assigning the correct value? or are there others? there are many other places other kinds of hard assets they've been investing heavily into. >> when you have -- in some financial assets either by money laundering or tax evasion, a variety of financial centers, i think it'

. >> is it driven by demand -- this is nouriel roubini earlier this week said these record high art pricesean anything. it's money laundering. what should we take as a conclusion from that? >> the art market is not the stock market. it is the tip of the spear when you talk about the asset classes being driven by a massive amount of liquidity that by the way, is more and more concentrated into a smaller group of people. >> right. >> that includes stocks. that includes bonds. that includes all financial assets. there just aren't that many things to do with it. >> sharon, what do you think the lessons are? >> looking outside of the people with that very small group that still want to be invested in the market. as we see the slow grind higher and higher though it is incremental, it is positive. when you look at talking to technical analysts look at where we're going, we're not breaking new lows and we're not -- we're getting to new highs slowly. that may continue. we may have pullbacks. we may have a major pullback. it's a major reason to stay in the market. >> i wonder if we'll start to get p