In all three cases, kicking the can down the road has staved off disaster so far, but the cans are getting bigger and heavier.Roubini thinks that Europe will be the first to stumble, with a Greek default, a banking crisis and a severe recession across most of the continent. He thinks China's days of can-kicking are limited as well, as state-owned enterprises stay committed to an overly rapid expansion strategy that leaves consumers with inadequate income to purchase what is being produced. Roubini is more optimistic (!) about the US, believing that long-awaited fiscal reform and continued population growth will carry the day.
Roubini will always be remembered as being the only economist with solid academic credentials who called the 2008 meltdown months in advance. Until he totally blows a forecast, people will continue to listen carefully when he speaks.
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"Roubini will always be remembered as being the only economist with solid academic credentials who called the 2008 meltdown months in advance." Certainly you know about predictions and stopped clocks:
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Nice blog, I like it very much! Congrats for everything
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