Project Syndicate/Nouriel Roubini/2-25-2022
“We now must consider the economic and financial consequences of this historic development. Start with a key geopolitical observation: This is a major escalation of Cold War II, in which four revisionist powers – China, Russia, Iran, and North Korea – are challenging the long global dominance of the United States and the Western-led international order that it created after World War II. In that context, we have entered a geopolitical depression that will have massive economic and financial consequences well beyond Ukraine.”
USAGOLD note: Roubini says a stagflationary recession is now highly likely. Don’t count on a soft landing, he says, safe-haven currencies and gold prices will rise further.
