caroline: what do you make of nouriel roubini grandstanding here?n really entertained by an aerial roubini's tirades in the hearing -- by nouriel roubini's tirades in the hearing and on twitter the last few days. he is going to town. the funny thing is, he sounds like a really hard-core bitcoin fan. he uses a pejorative that we can't say on-air. he slams ethereum. slammed blockchain technology. it's almost like he says all the things that the really hard-core bitcoin tribe likes to say, except he doesn't say anything good about bitcoin. i've been amused at how much overlap there is between him and the most hard-core faction of the bitcoin world -- critical -- crypto world. caroline: interestingly, it's not correlated. joe: cryptocurrencies are getting clobbered again today. 10% hard -- crypto falls frequently. who knows? the way i think about correlation is, in a panic, what do you do? you raise money in the currency that your bills are denominated in. i need some dollars. no one has bills denominated in cryptocurrency that i have ever heard of. car

nouriel roubini.s called by "foreign policy magazine" one of the top 100 global thinkers. he predicted the 2007-2008 housing collapse. you have concerns about where we are on the horizon. but characterize where we are in terms of the economy. >> the economy in the u.s. and globally is doing well. next year the will be slightly less than 2%. but i expect a slowdown and likely a recession by 2020. the next two years things are fine, but then we'll have a significant slowdown in growth. maria: why? where -- how do you get there for a slowdown and recession in 2. > in -- in 2020. the third quarter looks like around 3%. the economy is growing around 3%. this year and next year, 1% of gdp. consumer confidence is better and business confidence is better. but most of of the movement from 2 to 3. the way they designed it to 018-2019. and it's a cliff. the stimulus goes away and the beginning in 2020. and it will get bigger and bigger by 2025. the 3% pushes you below 2%. around 2.pay the, and 1.pay the by 2020.

first will hear testimony from doctor nouriel roubini. professor of economics and international business at nyu stern school of business. then we'll hear from mr. peter van valkenburg, director of research at, research and advocacy group coin center. dr. roubini, you may proceed. before you do as i always do our mind you to please try to pay attention to the clock and keep your initial remarks to five minutes. you will have opportunities to respond an ad during questions, and a remind my colleagues of the same limitations that they have on their question time. with that, dr. roubini, please proceed. >> thank you. chairman crapo, ranking member brown and members of the committee, thank you for the opportunity to test that the topic of crypto currency and blockchain. my name is nouriel roubini and i'm a press of economics at new york university. in summary, my view on this is as follows. first, crypto is moderate or father of all bubbles, but that is finally going to bust that you picked second is a most overhyped technology ever and it is n

around the world do you take your prediction seriously especially after your partner and co-author nouriel roubini accurately predicted the two thousand and eight downturn i gathered from your writing though that if this next crisis comes it's all regions are likely to be more multi-factor old than the origins of the crisis that is so previously. only two thousand and eight crises somehow dejan in to. us in the subprime mortgage sector and then the spread of the war although of course. intimate and ultimate causes of the crisis were already present and there were already global lead time different villages in the banking system where already very present day failures of some regulation including the two in the tendency of buying some bringing. a lot of the assets off balance sheets were global phenomena but of course you know they they all to me it. triggered off the crisis was the explosion so to speak of the surprise mortgage market in the us this time around is more question of having as you suggest the fuck to play. and they originated in in different parts of the warthe absolutely and in your