Nouriel Roubini no Green Shoots but Plenty of Yellow Weeds

stocks markets worldwide are are up ,the commodities prices are sharply up some think the crisis is over but Nouriel Roubini at the St. Petersburg International Economic Forum tells audience that he does not see green shoots but rather plenty of yellow weeds ,"we are still in the middle of a sever crisis , the recession may last another 6 to 10 months , " he added , the banking system reform is important better corporate governance and accountability are all important , but Roubini sees a longer period of recession , large increase in public debt , that have to be paid for , for at least a couple of year to come ,Inflation tax increasing , financial imbalances not resolved the risk of a double U shaped recession , the oil prices going to hundred dollars a barrel , rising budget deficit , continuous monetization of the budget deficit , we are not out of the tunnel , it is still early to redesign the architecture and the market discipline , the rating agencies have conflicts of interests and could not be relied on ... every single pillar of Basel 2 has already failed we are now thinking of Basel 3 , all institutions should go under the same regulatory umbrella either financial bank commercial bank hedge fund investment bank insurance company , the loopholes are still there , the shadowy banking system has led to the troubles we are in now....the challenge is very big there is a fundamental problem with corporate governance...


Nouriel Roubini also known as Dr Doom is an economist and professor at New York University's Stern School of Business,