Tuesday, August 21, 2012

Nouriel : We learned the lessons of the Great Depression

Nouriel Roubini : Yes, the Federal Reserve can help and so far it has helped. The fact that the Great Recession of '08/'13 did not turn into another Great Depression is due to the fact that we learned the lessons of the Great Depression. And it means that in the short term we need more fiscal stimulus. The reality however is that we're running out of policy bullets. Politically, we're not going to be able to bailout the banks and the bankers for a second time. I think there will be a political backlash against it.
So if things are to turn sour compared to '08, when we had all the policy bullets, this time around would be worse. - in NPR

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Nouriel Roubini nicknamed Dr. Doom and lately Dr. Realist by CNBC , is a professor of economics at the Stern School of Business, New York University and chairman of RGE Roubini Global Economics, an economic consultancy firm . Prof. Nouriel Roubini A world-class economist who offers an unflinching look at the global meltdown and distinctive insights into its course going forward. His research on financial crisis in emerging economics has yielded a unique and now vindicated approach to future collapses. Roubini speaks on the global economic outlook and its implications for the financial markets. From his analysis of past collapses of emerging economies, he has identified common factors that support his predictions of crisis in the US and world markets. He has held several high-level advisory positions in the US government and international finance organisations, published numerous policy papers and books on key international macro-economic issues and is regularly cited as an authority in