Shallow recession calls are ‘totally delusional,’ Roubini warns

Bloomberg/Isabelle Lee/7-25-2022

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“‘There are many reasons why we are going to have a severe recession and a severe debt and financial crisis,’ the chairman and chief executive officer of Roubini Macro Associates said on Bloomberg TV Monday. ‘The idea that this is going to be short and shallow is totally delusional.’”

USAGOLD note: Roubini goes to say that we are setting for a stagflationary confluence worse than the 1970s and the Great Financial Crisis. One senses a very large element of futility in Fed policy, at this juncture, making Roubini’s outlook all the more believable.

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