Tweet
What could be more depressing on a Sunday morning that Evans-Pritchard quoting Roubini. I was about to get a razor and slash my wrists, until I noticed that Evans-Pritchard actually managed to put together an entire column without once using the word "deflation". I feel better already...
No defence left against double-dip recession, says Nouriel Roubini
By Ambrose Evans-Pritchard, International Business Editor in Cernobbio, Italy
Published: 9:49AM BST 05 Sep 2010
“The US has run out of bullets,” said Nouriel Roubini, professor at New York University, and one of a caste of luminaries with grim forecasts at the annual Ambrosetti conference on Lake Como.
“More quantitative easing (bond purchases) by the Federal Reserve is not going to make any difference. Treasury yields are already down to 2.5pc yet credit spreads are widening again. Monetary policy can boost liquidity but it can’t deal with solvency problems,” he told Europe’s policy elite...
By Ambrose Evans-Pritchard, International Business Editor in Cernobbio, Italy
Published: 9:49AM BST 05 Sep 2010
“The US has run out of bullets,” said Nouriel Roubini, professor at New York University, and one of a caste of luminaries with grim forecasts at the annual Ambrosetti conference on Lake Como.
“More quantitative easing (bond purchases) by the Federal Reserve is not going to make any difference. Treasury yields are already down to 2.5pc yet credit spreads are widening again. Monetary policy can boost liquidity but it can’t deal with solvency problems,” he told Europe’s policy elite...
Comment