Nouriel Roubini: Obama Needs $700 Billion Stimulus Package

Nouriel Roubini, the New York University professor who predicted the current financial crisis in 2006, talks with Bloomberg's Mark Barton about the measures required to stimulate the U.S. economy.


Video courtesy of Bloomberg
Via Housing Doom:

Roubini surprised me by advocating a massive and expensive government intervention . He is advocating, in a nutshell:

1. $700B stimulus package
2. Recapitalization of banks
3. Reducing the debt burden of households
4. Ease money supply and restore liquidity

I’m of the opinion that our economy is too dependent on housing and construction, and only a basic retooling and rethinking of our economy will bring about recovery. No amount of spending will put the current system back together again. I don’t believe his solutions will "get us out of this mess".

Related Posts :

Nouriel Roubini: The fight against deflation has to be unorthodox

Sources :

Bloomberg Video: Roubini Says Obama Needs $700 Billion Stimulus Package, November 28, 2008

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