Tuesday, July 5, 2011

Roubini: U.S. Needs More Stimulus; Fiscal Train Wreck; Zero Rates As Far As Eyes Can See

Nouriel Roubini said today that the U.S. needs even more fiscal stimulus in the short term as its economy remains weak.

He also says that the country needs to deal with fiscal problems or "you’re going to have a fiscal train wreck,”

“The right solution would be to commit to a program of trying to control spending and raised taxes gradually over the next five years,”
“The trouble is we’re doing short-term drag rather than stimulus and we’re not committing to anything in the medium term, so the policy in the U.S. is not optimal,”

“This is QE3 after QE2. It’s not going to make a huge difference, but you need more monetary stimulus,”

“...you’ll have zero rates for as far as the eye can see,” (Bloomberg TV)

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