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Title: Roubini: Global Economic Slowdown May Spill Into US
Source: [None]
URL Source: http://www.moneynews.com/StreetTalk ... 10212014&s=al&dkt_nbr=bkxu2kqg
Published: Oct 20, 2014
Author: Dan Weil
Post Date: 2014-10-21 16:51:08 by BTP Holdings
Keywords: None
Views: 201
Comments: 1

Roubini: Global Economic Slowdown May Spill Into US

Monday, 20 Oct 2014 07:50 PM

By Dan Weil

While star economist Nouriel Roubini of New York University expects U.S. economic growth to total about 3 percent annualized in the second half of this year and into 2015, he sees several risks to that scenario. On the external side, "the global economy looks like it’s running on a single engine, the one of the U.S. The other three major ones are sort of stalling," he tells FINalternatives news service.

"The eurozone is at risk of deflation and triple-dip recession. Japan has been hurt by fiscal contraction following the consumption tax, and China is quite sharply slowing down." All that weakness can hurt the United States, Roubini warns.

An acceleration of the dollar's rise — the U.S currency hit a six-year peak against the yen and a two-year high against the dollar last month — also could damage the U.S. economy, he says. A stronger dollar depresses exports by making them more expensive in foreign currency terms.

On the domestic side, it's not clear the economy can withstand higher interest rates from the Federal Reserve, Roubini says.

Doug Kass, president of hedge fund manager Seabreeze Partners Management, thinks the economy is too weak to allow Fed rate hikes before 2016.

"I think we’re approaching an ‘aha’ moment, when investors realize that growth isn’t going to emerge in the months ahead," he told The New York Times.

"People are losing sight of the fact that the Fed hasn’t raised rates since June 2006," he said. "I don’t see them raising rates for two or three more years."

Read Latest Breaking News from http://Newsmax.com www.Newsmax.com/Finance/R.../id/601935/#ixzz3GoZOowuB

Poster Comment:

I know it is happening here since there are more people out of work than ever. ;)

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#1. To: BTP Holdings (#0)

For the vast majority of this country, there is no recovery whatsoever.

Lod  posted on  2014-10-21   16:53:54 ET  Reply   Untrace   Trace   Private Reply  

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