Keep discussions on topic, avoid personal attacks and threats of any kind. The global economy faces a risk of a slow recovery or even another slump along the way unless a vaccine is found, according to Nouriel Roubini.The chief executive of Roubini Macro Associates Inc. also highlighted that the Wall Street recovery doesn’t mean that the real economy is healing. Nouriel Roubini, NYU professor and former White House senior economist under U.S. President Clinton, joins BNN Bloomberg to discuss the realities facing Canada’s economy amid the COVID-19 pandemic.
Speaking on Bloomberg Television on Friday, Roubini predicted that the shape of the recovery, which some predicted to be V, “is becoming a U and the U could become a W if we don’t find a vaccine and don’t have enough stimulus.” The Federal Reserve and the Paycheck Protection Program (PPP) have bolstered the economy, but Roubini said more is needed. Only a matter of when," he said in the interview.Some of Roubini's "deadly Ds" include debt, deficits, deglobalization, currency devaluation, and environmental disruption.In the last two months, central banks and governments around the world have pumped massive amounts of capital into financial markets to support the global economy that has been decimated by the coronavirus. Last week, Federal Reserve Chair Jerome Powell said that in the current emergency situation, debt doesn't matter. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc. Some economists are optimistic that the U.S. economy could see a sharp "V" shaped recovery as the impact of the COVID1-19 pandemic diminishes. Newsmax, Moneynews, Newsmax Health, and Independent. Roubini said that rising stock market indices are not necessarily a good sign for the economy at large; rather, "What's good for Wall Street is bad for Main Street". © Copyright 2020 Bloomberg News. He also said that the central bank is ready to do whatever it takes to support the faltering U.S. economy.While the emergency steps the Federal Reserve has taken, has been necessary, Roubini said that these monetary and fiscal policies will not only fail to stop the "slow-moving train wreck" but will exacerbate the debt and deficit issues.Roubini's interview didn't touch on the gold market.
“Main Street is struggling,” he said.A recent resurgence of coronavirus cases across the world has hampered the recovery seen when lockdowns ended. © Copyright 2020 Bloomberg News. High-frequency gauges monitored by Bloomberg Economics indicate that the rebound in economic activity has slowed across developed nations and even turned in some European countries.Roubini, who famously warned in 2006 that the housing market in the U.S would soon collapse, highlighted that a fresh outbreak of Covid-19 in Europe could also mean another wave of unemployment. And Nouriel Roubini was just some obscure academic.
In the last two months, central banks and governments around the world have pumped massive amounts of capital into financial markets to support the global economy that has been decimated by the coronavirus. According to Roubini, the U.S. still needs a “significant fiscal stimulus” of “at least $1.5 trillion for the next few months,” or the economy will slow down further. Speaking on Bloomberg Television on Friday, Roubini predicted that the shape of the recovery, which some predicted to be V, “is becoming a U and the U could become a W if we don’t find a vaccine and don’t have enough stimulus.” With the economy booming and asset prices so far out of line with income flows there may be scope for the FED and other central banks to do more. The global economy faces a risk of a slow recovery or even another slump along the way unless a vaccine is found, according to Nouriel Roubini. The global economy faces a risk of a slow recovery or even another slump along the way unless a vaccine is found, according to Nouriel Roubini.The chief executive of Roubini Macro Associates Inc. also highlighted that the Wall Street recovery doesn’t mean that the real economy is healing.
Still, European workers have much better policies protecting their jobs compared with the U.S., he said.“The European system of greater social cohesion gives you better economic outcomes than the one of the United States that is just Wild West capitalism,” Roubini told Bloomberg’s Tom Keene and Francine Lacqua. You will now be redirected to the Continuum Economics website. Doom” for his ominous prognostications about the economy and financial system.
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