Wednesday, February 2, 2011

Nouriel Roubini : if another crisis were to occur down the line, its going to be even more virulent then the last one

Nouriel Roubini :...I don't expect that my views are going to be implemented during this crisis. We might have to wait until the next one, until more radical proposals will be considered. My worry is that if we don't create a system where these crises occur less frequently, then the backlash we have seen in recent times against market oriented economies, against reforms, against globalization, against free trade, could become more severe the next time around. The lesson is actually if another crisis were to occur down the line, it's going to be even more virulent then the last one, even more damaging and costly for any measure you want to look at, income, jobs, wealth, fiscal costs. We just can not afford that....
in www.spiegel.de

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