Sunday, Sep 05, 2010
All the money has gone!
Daily Telegraph: No defence left against double-dip recession, says Nouriel Roubini
Dr Death strikes again. “The US has run out of bullets" Dr Roubini said the US growth rate was likely to fall below 1pc in the second half of the year, despite the biggest stimulus in history: a cut in interest rates from 5pc to zero, a budget deficit of 10pc of GDP, and $3 trillion to shore up the financial system. The anaemic pace compares with rates of 4pc-6pc at this stage of recovery in normal post-war recoveries.
“We have reached stall speed. Any shock at this point can tip you back into recession.
Posted by who stole my pension? @ 11:38 AM (1072 views) Add Comment
7 Comments
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1. drewster said...
"Any shock at this point can tip you back into recession."
Cutting departmental budgets by 25% in the forthcoming October spending review would certainly qualify as a shock.
2. Crunchy said...
We have finally revealed the new world order, now here are your slave chips. 666
3. alan said...
"All we did was kick the can down the road and stole demand from the future,” he said.
Fair enough, IMHO
4. enuii said...
Therefore the US was never really out of recession so there technically never was a double dip.
5. mark wadsworth said...
What enuii says. Only a madman would claim that the "credit crunch" was miraculously fixed within a year and that what is happening now has nothing to do with that.
6. sureseam said...
alan @ 2: It is an interesting quote and one that I suspect it is possible Roubini has reprised from Kyle Bass in the following CNBC interview:
http://www.zerohedge.com/article/must-watch-kyle-bass-interview-there-no-way-i-can-be-long-stocks
He is a sharp thinker and agrees with enuii (@3).
7. Crunchy said...
3. enuii
Cake crumbs of hope, thrown from the plutocracies ivory tower window.
It's not bad enough yet, because the miraculous salvage of micro chipping the population is still not frontpage news.
More events to come. It's called not letting a crisis go to waste. Same old.