In his opinion, it's not a question of whether we will or won't have another recession, but whether it will be mild or deep. The crisis in Europe will have a lot to do with the depth of the US/EU double-dip. At the moment, the markets are full of negativity one day, and the next optimism, about finding a resolution. There are no easy answers nor are there any good answers to the crisis, so expect a lot more extreme reactions in the days ahead. Bloomberg:
Most advanced economies are lapsing back into recession while the U.S. is already in the throes of an economic contraction, according to Nouriel Roubini, co- founder and chairman of Roubini Global Economics LLC.
“The way I see the global economy, I think we’re entering into a recession again in most advanced economies,” Roubini said in a panel discussion today at the Bloomberg Dealmakers Summit in New York. “I think we’re already into one in the U.S. based on the hard and soft data -- same with most of the euro zone, same with the United Kingdom.”
