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Like most notable economists, Nouriel Roubini is Jewish.
But you don’t have to be a notable economist to predict a monumental market crash.
The question is: when will such a thing occur?
RT:
The US economy could sink into a quagmire of shrinking output, surging inflation and soaring unemployment, renowned economist and New York University professor Nouriel Roubini warned last week during an eToro webinar.
He argued that the Federal Reserve might have to double interest rates to 5% in order to curb inflation. However, such an increase could choke economic growth and cause a spike in joblessness, Roubini stressed. Moreover, raising rates could trigger a debt crisis.
Yes, it’s the worst of both worlds.
Doing all of this money printing was stupid, but at this point, it makes the most sense to just keep doing it. Raising interest rates wouldn’t fix inflation, unless you raised them to 40% or something. Inflation is much too extreme. So if you cared about the country, at this point you would just let inflation happen, instead of hitting people on both ends.
The economist also cautioned that the US regulator’s moves to rein in inflation could tank the economy, and cause crashes across stocks, bonds, housing, credit, private equity, and other assets in bubble territory. However, if the central bank gives up on fighting inflation, price increases could spiral out of control.
Spiraling prices are a much better problem to have than collapsing asset values. If the bubbles all implode, inflation will be irrelevant.
Stubborn inflation and the coronavirus pandemic might force the Fed to drive the US economy into an even deeper recession than the one it has avoided, Roubini warned.
Haha.
When did it avoid a recession?
So stupid.
But yeah – something is going to happen!
It’s not just going to stay in a state of flux indefinitely!
That’s not the way it works!
