Thursday, August 21, 2014
Roubini: Skilled worker vs Blue Collar worker
Roubini says the Fed is caught in a position where it needs to do more to help the economy, but at the same time, it's beginning to create new bubbles. He referred to what he sees now as "frothiness," pointing in particular to housing, junk bonds, and, potentially, bitcoins. But in two or three years time, Roubini says we could have a problem that leads to another financial crisis. "Capital will do well, and skilled labor will do well. Blue collar workers, not as much."
Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics