The mainstream never sees a recession or bear market coming not even when leverage and price-indiscriminate buying have reached record levels. Now that a major loss cycle has arrived once more, the same crowd is saying that everyone has lost and no one could have seen this coming (neither is true) and that everything will rebound quickly in the second half of the year. Probabilities do not favour this outcome. As explained in this segment, the base case suggests a recession and bear market as bad as 2008, at least.
Dr. Nouriel Roubini returns for an in-depth analysis of the coronavirus crisis. Roubini explores coronavirus-related destruction in the real economy, the impact and shortcomings of the containment effort, and his view of the risks caused by an underlying debt bubble. He also explains to Real Vision’s Ash Bennington the individual elements of the policy response with a special focus on monetary policy and the US dollar. Here is a direct video link.
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