Roubini: “New normal” is not normal

Nouriel Roubini, the NYU professor colloquially known as “Dr. Doom”, has taken aim at lawmakers around the world for a lack of reform and relying “almost entirely on unconventional monetary policies, which have diminishing returns (if not counter-productive effects).” In an article that lives up to his reputation, he lamented the lack of growth globally. “The International Monetary Fund and others have recently revised downward their forecasts for global growth – yet again. Little wonder: The world economy has few bright spots – and many that are dimming rapidly,” he said. “There is nothing normal or healthy about economic performance that is increasing inequality and, in many countries, leading to a populist backlash – both on the right and the left – against trade, globalization, migration, technological innovation, and market-oriented policies.” Read the full article: (VIEW LINK)