Roubini at Davos: Reports and Videos on the U.S. and Global Economy
From CNNMoney — Roubini: Jobs a Problem for Years (Click for Video [7:42])
From CNBC — Obama’s Spending Freeze Just ‘Spare Change’: Roubini (Click for Video and Report)
From the FT — Global Economy Fears Ease at Davos
The global economy dominates the first day of debates at the Swiss ski resort and, following unexpectedly strong global growth in 2010, the levels of optimism were better than at any Davos gathering since 2007.
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- My forthcoming Foreign Affairs article with Ian Bremmer: A G-Zero World. With G20 in disarray/disagreement & G7 obsolete it is a G0 world
- It is not a G7 world; it is not a G20 world; it is a G0 world without global leadership and international cooperation
- Downside risks for growth: sovereign risk; Eurozone crisis; inflationary rise in commodity prices; US risks (housing, labor mkt, budget def)
- Positives for growth:global recovery; profitable corporations;strong emerging markets; less tail risk of double dip; asset reflation/risk on
- I was a speaker in the Davos initial panel on the global economic outlook: some upside risks to global growth and several downside risks
- UK already double dipping while inflation is rising: a whiff of stagflation with fiscal and monetary policies not helping growth recovery
- Pain of UK fiscal austerity still to come while GDP already falling. & hope that BoE would support growth via QE2 dashed by inflation rise
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