Charlie Rose – Jon Hilsenrath / Martin Wolf / Nouriel Roubini / Malaria
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A conversation with Jon Hilsenrath, Chief Economics Correspondent for The Wall Street Journal. || A conversation with Martin Wolf, associate editor and chief economics commentator at the “Financial Times” || A conversation with Nouriel Roubini about the economy. || A discussion about Malaria with Peter Chernin, President and Chief Operating Officer of News Corporation, Paul Kagame, President of the Republic of Rwanda and Dr. Tadataka Yamada.This product is manufactured on de… More >>
Charlie Rose – Jon Hilsenrath / Martin Wolf / Nouriel Roubini / Malaria
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Roubini is one of the few who foresaw the financial crisis. He may not be infallible but he has been more right than most. He gives an up-to-date view of the situation a day after the market has bounced back and gained close to a thousand points. He seems to feel that the collapse of the system is not going to happen. But I write this a few days afterwards when the Market has already given back those gains. In any case as Roubini himself says, he has no good news. The recession is already underway and it is deep. It is at least a U- shaped recession and will last minimum two- years. The fear of collapse is the fear of the ten – year L- shaped depression. Roubini says that there has to be swift action, fiscal stimulus of three- hundred billion dollars to complement the money injected into the banking system by the Federal government. He says the banking situation must not be allowed to deteriorate. He is for a more active weeding out of the bad apples. He says that there must be a Federal program to work with those who are to lose their homes, a restructuring of the mortgage system so that as many people as possible will have new long- term affordable mortgages. Roubini when credited with Charlie Rose with foreseeing the crisis says others have also. He mentions Robert Schiller and says those with independence are able to make more honest appraisals. Again he does not see an easy time ahead for the U.S and the global economies. Again a minimum two- year very serious recession and possibly much worse than that.
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