247 Local Media247 Local Media

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    An Overview of Online Casinos vs Traditional Casinos

    December 8, 2022

    Types of Specialists for Erectile Dysfunction

    October 31, 2022

    When students’ basic needs are met by community schools, learning can flourish

    September 27, 2022
    Facebook Twitter Instagram
    • Home
    Facebook Twitter Instagram
    247 Local Media247 Local Media
    Subscribe
    • Home
    • Automotive
    • Business
    • CBD
    • Crypto
    • Education
    • Entertainment
    • Fashion
    • Finance
    • Health
    • Home Improvement
    • Law \ Legal
    • News
    • Shopping
    • Sports
    • Technology
    • Travel
    • Contact US
    247 Local Media247 Local Media
    Home»Business»Economist Nouriel Roubini calls predictions for shallow recession ‘delusional’
    Business

    Economist Nouriel Roubini calls predictions for shallow recession ‘delusional’

    By July 27, 2022No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Economist Nouriel Roubini calls predictions for shallow recession ‘delusional’
    Share
    Facebook Twitter LinkedIn Pinterest Email
    Economist Nouriel Roubini calls predictions for shallow recession ‘delusional’

    [ad_1]

    Economist Nouriel Roubini, who correctly predicted the 2008 financial crisis, believes the US is heading towards a deep recession and said those claiming the downturn will be mild are “delusional.”

    “There are many reasons why we are going to have a severe recession and a severe debt and financial crisis,” Roubini said on Bloomberg TV Monday. “The idea that this is going to be short and shallow is totally delusional.” 

    Instead, he’s forecast a deep, impactful recession as a result of rising interest rates and high debt ratios in the wake of the COVID-19 pandemic.

    Unlike the 1970s recession when the debt ratio was low despite “stagflation” — a combination of stagnant growth and high inflation — the national debt has skyrocketed since 2008 and was subsequently followed by a period of low inflation due to a credit crunch and sudden demand shock, he said.

    The Federal Reserve in Washington D.C.
    Economist Nouriel Roubini predicts a deep recession as a result of rising interest rates and high debt ratios.
    AFP via Getty Images

    “This time, we have stagflationary negative aggregate supply shocks and debt ratios that are historically high,” said Roubini. “In previous recessions, like the last two, we had massive monetary and fiscal easing. This time around we are going into a recession by tightening monetary policy. We have no fiscal space.”

    Roubini is the CEO of Roubini Macro Associates and has earned the nickname Dr. Doom for his bleak predictions.

    [ad_2]

    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Beyond Meat, Impossible struggle due to ‘woke’ perception: analysts

    September 26, 2022

    Developer hustles to build ‘Bustle’ in Penn Station area

    September 26, 2022

    Amazon rolls out second Prime Day this year for first time ever

    September 26, 2022
    Add A Comment

    Comments are closed.

    Editors Picks
    Recent Posts
    • An Overview of Online Casinos vs Traditional Casinos
    • Types of Specialists for Erectile Dysfunction
    • When students’ basic needs are met by community schools, learning can flourish
    • Walmart and Target Are Hiring 140,000 Seasonal Workers
    • 7 Ways to Get Affordable Dental Care for Adults and Children
    Archives
    • December 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • September 2021
    Facebook Twitter Instagram Pinterest Vimeo YouTube
    • Home
    © 2022 - 247 Local Media- All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.