06 Mar
Interview: Roubini Sees More Economic Gloom Ahead
Where is the global economy heading from here?
My concern right now is that this U-shaped recession we are in could turn into something much uglier, meaning a Japanese-style L-shaped recession. We’re in the worst global synchronized recession in the last 60 years. Unless we take the right policy actions, we’ll end up in a near depression. I did not want to use that term six months ago. At that time, I said the chances of a near depression were only 10%. But today those chances are 33% or so.
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