Roubini to Peter Schiff : "I'm in favor of low inflation, a target of 2 percent. You were arguing
that deflation was good. I was pointing out that in the period of time
that we had deflation, the Great Depression, or the stagnation of Japan,
in the last 20 years, or what's happening right now in the euro zone
where you have deflation and recession, deflation is associated with
lack of aggregate demand that implies an economy is in depression," he
said. "And therefore, deflation is a symptom of lack of growth and
aggregate demand. Why do you think deflation is good? That's nonsense."- in CNBC
Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics
