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Thursday, October 18, 2012

Roubini : QE3 will be associated with a large fiscal cliff

Nouriel Roubini : Moreover, fiscal support is absent this time: QE1 and QE2 helped to prevent a deeper recession and avoid a double dip, respectively, because each was associated with a significant fiscal stimulus. In contrast, QE3 will be associated with a fiscal contraction, possibly even a large fiscal cliff. - in project syndicate
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