Sunday, September 11, 2011
We need to do massive stimulus; otherwise, there is going to be another Great Depression
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,”
“It depends on what policy tools are available "
With the eurozone in crisis, facing a record-high cost for insuring bank debt, there is a 60% probability that most advanced economies will fall into a recession, . Roubini said.
“In the short term, we need to do massive stimulus; otherwise, there's going to be another Great Depression,” “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.”
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4 comments:
Nouriel,
We all have enjoyed reading you commentary over the years, but it seems you have slowly morphed and been transformed into a mini-socialist with your pro-stimulus leanings.
Attempting to sober up a drunk with more alcohol has never worked and more "stimulus" will not work here either.
Maybe at NYU, the first order of capitalism, "profit and loss" has been swept away by the new social order, but it is still the first order.
Somewhere, somehow, someone needs to provide constructive advice to these frantic policy makers that will not destroy our economy for those under 40, not more of the same debilitating socialist drivel!
Wake up, my friend, before all is lost and everyone goes down with the ship! It's almost too late!
Stand up. Be a leader!
No stimulus = Great Depression. Stimulus = complete failure of the dollar, the euro, etc.. which will be the Greatest Depression with no foreseeable recovery.
So, you filtered comments.
Sounds like you're a protege of Heinrich Himler. May end up the same way!
Stimulus can print as much as they want until they run out of paper and ink (Mark Twain.
Markets are markets and will ALWAYS be the final determinate. As an educated person, you should know this.
See ya,
Stimulus spending did not "destroy the economy for those under 40" back in the 1930's.
Everyone seems to keen to ignore historical evidence to push an austerity agenda that appears to have little if any historical backing.
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