US Fiscal Train Wreck Ahead

Telegraph article: Roubini sees US 'fiscal train wreck' ahead - The US economy is a "fiscal train wreck" waiting to happen, US economist Nouriel Roubini warned on Friday.

Argentina: The Economic Outlook Is Cloudy Because Of External And Domestic Factors

“While overall economic growth is still robust right now, the economic outlook is cloudy because of external factors and domestic factors. The growth of the economy that is coming from the net export part of the economy is going to weaken over time because global economic growth is slowing down and exports and imports globally are going to slow down.”

With a domestic economy that is driven by mostly domestic demand right now, artificially boosted by easy money, easy credit and easy fiscal policy, and an external sector that so far is doing well, but with the fixed exchange rate and high inflation, the real appreciation is going to lead to a significant weakening of that account.”

Nouriel Roubini, in a Buenos Aires speech, October 27

There Is A Shift Of Economic, Trade And Financial Power To Emerging Economies

"There is a shift of economic, trade and financial power from advanced economies to emerging markets. There's a massive shift in the portfolio preferences of investors to emerging markets and away from advanced markets."

in WSJ

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China And US: A Recipe For Trade Wars.

"Having 10% unemployment in U.S. and 10% growth in China is a recipe for trade wars in a situation in which China doesn't allow its currency to appreciate."

Nouriel Roubini, in a speech to Latin American steel industry executives

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Greece Is Going To Default Or Do A Restructuring Under Pressure.

“If you don’t want to call it default or bankruptcy, call it a restructuring under pressure, but it’s going to happen.”

Nouriel Roubini, in www.ekathimerini.com

Growth Is Slowing Down.

“Some factors that contributed the growth performances of developed economies in the first half 2010 will not continue to exist in the second half, slowing the growth”

Nouriel Roubini, Istambul, October 20th

The ECB Would Rather Kill Any Chance Of The PIIGS Recovery.

“The stubborn ECB would rather kill any chance of the PIIGS recovery rather than consider further QE, which it finds unacceptable, citing the threat of a rise in inflation. Deflation, not inflation, is the risk which plagues the PIIGS."

in CNBC.com

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The Risk Of Global Currency And Trade Wars Is Rising

“The risk of global currency and trade wars is rising, with most economies now engaged in competitive devaluations”

in ictsd.org

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Ukraine's Economy Has Started To Recover

"Ukraine's economy has started to recover, although the realization of reforms in the financial and taxation spheres should be accelerated to strengthen the process, according to Nouriel Roubini, professor of economics at New York University's Stern School of Business.

The economy in Ukraine has started recovering, but crosswinds are still blowing, in particular, the slow recovery of the global economy, as emerging markets are strongly impacted by the global markets, he said. The only way to support Ukraine's economic growth is to accelerate reforms, and in general conduct a proper economic policy to provide resistance to global stresses, he said in Kiev on Tuesday at an investment forum organized by the Investment Capital Ukraine (ICU) Group.

He said that Ukraine should cut its budget deficit and clean up its financial system. The expert also said that Ukraine could gain much from direction foreign investment, although the rights of capital owners should be fully protected."

in www.ukrainianjournal.com

The Risk Of A Trade War Is Severe In Relations Between The US And China

“We are in a world where everybody wants to grow through exports. The risk of trade war is severe in relations between the U.S. and China.”

in Bloomberg.com