price of gold "can go above $1,000, but it can’t move up 20-30%”; he was wrong, as the price of gold rose over the next 18 months, breaking through the $1,000 barrier to over $1,400. Although in May 2010 he predicted a 20% decline in the stock market, the S&P actually rose about 20% over the course of the next year (even excluding returns from dividends). In 2012, Roubini predicted that Greece would be ejected from the Eurozone, but that did not happen. The Financial Times observed that in 2020 when the Covid-19 pandemic arrived, he said that policymakers would not mount a large fiscal response. However -- they did. Also in 2020, he predicted that a US-Iran war was likely. Journalist Alex Pareene called Roubini the "Joe Francis of Pessimism Porn," for writing multiple doomsday columns, including a 2009 column in the Washington Post declaring that unless the U.S. government seized and nationalized all US banks the system would collapse; that was simply untrue, it turned out. By highlighting that certain of his past predictions were accurate, Roubini has promoted himself as a major figure in the U.S. and international debate about the economy, and spent much of his time shuttling between meetings with central bank governors and finance ministers in Europe and Asia. Although he was ranked only 1,397th in terms of lifetime academic citations in February 2023, he was No. 4 on Foreign Policy magazine's list of the "top 100 global thinkers." In 2011 and 2012, he was named by the magazine as one of the Top 100 Global Thinkers. In 2013 Roubini was awarded by Global Thinkers Forum its annual Award for Excellence in Global Thinking. US economy In the 1990s, Roubini studied the collapse of emerging economies. He used an intuitive, historical approach backed up by a study of theoretical models and came to the conclusion that a common denominator was the large current account deficits financed by loans from abroad. Roubini theorized that the US might be the next to suffer, and in 2004 began writing about a possible future collapse. Business Week magazine writer Michael Mandel, however, noted in 2006 that Roubini and other economists often make general predictions which could happen over multiyear periods. In 2004 he said that an upcoming recession would lead to the crash of the dollar; when a few years later a recession did come, however, it actually