Tuesday, July 20, 2010

Nouriel Roubini : speaker at the Summer Institute lecture series at the Jewish Center of the Hamptons.

Nouriel gave his standard talk: The U.S. is entering either a "U" (at best) or a "W" (at worst), while over there, he estimates 0% growth in the eurozone over the next 12 months.

Reduced fiscal and monetary stimuli, the cessation of temporary benefits (inventory build, Cash for Clunkers, homebuyer's tax credit, etc.) and diminished confidence (consumer and corporate) spell subpar growth (1.5% estimated second-half domestic growth). Deflationary pressures remain the mainstay in the aftermath of the last economic and credit cycle and in the face of tax policy (higher January 2011) and the obliteration of the shadow-banking system and securitization markets.
in thestreet.com
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