Showing posts with label Great Depression II. Show all posts
Showing posts with label Great Depression II. Show all posts

Friday, September 23, 2011

The risks ahead are not just of a mild double-dip recession, but of a severe contraction that could turn into Great Depression II

Nouriel Roubini : The risks ahead are not just of a mild double-dip recession, but of a severe contraction that could turn into Great Depression II, especially if the eurozone crisis becomes disorderly and leads to a global financial meltdown. Wrong-headed policies during the first Great Depression led to trade and currency wars, disorderly debt defaults, deflation, rising income and wealth inequality, poverty, desperation, and social and political instability that eventually led to the rise of authoritarian regimes and World War II. The best way to avoid the risk of repeating such a sequence is bold and aggressive global policy action now. - in a recent article
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