"The big risk is that there will be a downturn in markets that could impact the bond, the equity and the credit markets," Nouriel Roubini, chairman of RGEMonitor.com, told CNBC when discussing the economic outlook Friday.
"In the second half, fiscal policy becomes a headwind, no more cash for clunkers," Nouriel Roubini said. "The positive scenario is that growth will be below par." "The big risk is that there will be a downturn in markets that could impact the bond, the equity and the credit markets," he added.
“Job losses have been higher, the US jobs number will show that. There is no private sector jobs growth," he said. "Consumption is weak, exports are weak and housing is weak." "If there is no final sales and no final demand, companies will not invest," he explained
“The biggest banks have been backstopped, but 800-plus small- and medium-sized banks in the US remain on the critical list and half of those will go bust," Roubini said.
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