Nouriel Roubini : “I thought a few months ago that the perfect storm would be 2013, but now, the economic weakness in the U.S., eurozone and U.K. is front-loaded.”
“So we’re going to double-dip earlier. The climax of it could be 2013 or it could be already earlier.”
“There’ll be more monetary easing and quantitative easing done by the Fed and other central banks, but the credit channel is broken.” Nouriel Roubini told Bloomberg News.
“Things are getting worse, and the big difference between now and a few years ago is that this time around, we’re running out of policy bullets.”
“America’s recent data have been lousy: there has been little job creation, weak growth and flat consumption and manufacturing production. Housing remains depressed. Consumer, business and investor confidence has been falling, and will now fall further.”
“Until last year policymakers could always produce a new rabbit from their hat to trigger asset reflation and economic recovery.” Roubini writes. “Zero policy rates, QE1, QE2, credit easing, fiscal stimulus, ring-fencing, liquidity provision to the tune of trillions of dollars and bailing out banks and financial institutions – all have been tried. But now we have run out of rabbits to reveal.” he added.
Nouriel Roubini, co-founder and chairman of Roubini Global Economics LLC. Roubini tells Brloomberg , "we're going into a recession based on my numbers" and that the Federal Reserve and other authorities no longer have the ability to provide emergency support.
No comments:
Post a Comment