“Money alone is not going to resolve the problems” in Europe, where the “contagion is spreading” far beyond the so-called periphery, according to New York economics professor Nouriel Roubini. “The contagion has now gone viral, cross Atlantic and global.” If you cannot see the clip below, look here.
He also offers some good historical perspective on the call for a return to the gold standard.
Good overview of the problems in the dysfunctional Congress, and disastrous monetary policy from the Federal Reserve over the past 20 years, with David Stockman, former director of the Office of Management and Budget in the Reagan administration. Watch the segment here.
When the commentators start talking about “terrifying” economic outlooks, we know we are making some important progress to the downside. Not there yet, but markets are moving in the right direction in the price discovery process. Good recap on the political and economic risks facing the global economy with Mohamed El-Erian, chief executive officer and co-chief investment officer at Pacific Investment Management Co. Watch the Bloomberg clip here.
