Wednesday, July 21, 2010

Roubini : Private sector deleveraging has barely begun

The global economy is headed toward a sharp slowdown this year as the effect of these measures wanes, says economist Nouriel Roubini.
“Private sector deleveraging has barely begun,”
“Moreover, there is now massive re-leveraging of the public sector in advanced economies, with huge budget deficits and public-debt accumulation driven by automatic stabilizers, countercyclical Keynesian fiscal stimulus, and the immense costs of socializing the financial system's losses.”
Roubini sees the utlook for the US mediocre but the Eurozone is even worse

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