Wednesday, June 29, 2016

The Brexit is just one Symptom of a Global System that is Breaking Down

“Traditional monetary and fiscal policies have lost their efficacy to jumpstart anemic economies, and structural reforms have been constrained by politics,” he said.

“What we saw in the UK referendum was a division between rich and less rich, young and old, skilled and less skilled. This kind of pressure is becoming severe,” he said. “Look at the United States: you have Donald Trump representing the angry white blue-collar worker, and Bernie Sanders for both angry white- and blue-collar workers.”

Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

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