Roubini Says Dollar, Franc May Beat Gold in Recession (Expectations Management, it's slowing but less than some feared at least for now, do you feel better?)
Roubini also said the underlying problem is that developed- economy debts need to be reduced, which will take time and require an extended period of slow growth, he said.
Also speaking from Cernobbio, Harvard University historian Niall Ferguson said the global economy remains plagued by the trade imbalances that helped trigger the financial crisis and that U.S. consumers are not going to provide the engine of the growth.
“If global imbalances caused this crisis, the bad news is they’re back,” he said. “The short answer is that nothing is going to replace the U.S. consumer in the short term.”
Also speaking from Cernobbio, Harvard University historian Niall Ferguson said the global economy remains plagued by the trade imbalances that helped trigger the financial crisis and that U.S. consumers are not going to provide the engine of the growth.
“If global imbalances caused this crisis, the bad news is they’re back,” he said. “The short answer is that nothing is going to replace the U.S. consumer in the short term.”
Don't miss Art (CNBC)
Economists: Gloom and Doom Ahead, Especially in US
"Greece will not make it," said Sinn. He said the world can either subsidize Athens indefinitely, force a degree of austerity that actually risks "civil war," or — in what he suggested was the least bad option — encourage Greece to restore its drachma currency despite the domestic banking collapse that could well result.
I'm done and off.
My last, Fed May Face Less Pressure to Add Stimulus After Jobs Report but it won't improve the numbers, will it?
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