Roubini:Condemns 'FATAL' German Austerity

I believe this is the plan that S&L extols. It should be interesting to see who is correct. I put my money on Roubini.

Roubini Condemns 'Fatal' German Austerity
Published: Tuesday, 19 Oct 2010 | 5:44 AM ET
By: CNBC.com

The enthusiasm for Germany's economic growth is overdone and the country's savings plan is "fatal," Noriel Roubini, economist and chairman of Roubini Global Economics told a Germany magazine.

"The German economy is nowhere near pre-crisis levels yet," Roubini told Capital on Monday. "The current growth rate may look good on paper, but that is mainly a statistical effect."

Germany can currently borrow money cheaper than ever and German Chancellor Angela Merkel should take advantage of this and only start consolidating once the rest of Europe is in better shape, Roubini said.

The switch to “savings mode” at that point would still slow growth, but at least it would prevent “an emergency stop without a safety belt,” he said.

Roubini also said he saw considerable risks to the economy, even if Greece sticks with its tough program.

“The slightest external shock suffices for the Greek debt issue to become unmanageable,” Roubini said. “That is why I am not asking you if Greece will go bankrupt, but when?”

P.S. S&L i skimmed the book you gave me. It was painfully amateurish. Sorry to have to say that but
its truly what i felt. There have to be better books out there that explain the economic theories you believe in.

Admittedly, the parody was amatuerish, but one needs to focus on the concepts. Open your mind to see how things can work, and perhaps should work. Approach it scientifically, logically, critically, and you will see the thinking. Nowhere does Schiff say the government is bad. In fact it is necessary in terms of unifying the greater good of society. If you look at the greatest villan in the story, it's a republican. We're not talking democrat vs republican here.

The debt is an issue. My problem has been and remains the effectiveness my tax dollars being spent. What's wrong with that? Do you want to go out and buy a PC for 2x the price? Do you want to donate to United Way only to find out the 25% of you contribution actually goes to charity while the rest covers overhead and expenses? My concerns about government spending are totally valid.

Absolutely nothing wrong with wanting to have your tax dollars used effectively. We ALL want that.

Its just pure propaganda and politics when people say Govt is the root of all evil. If there was a balanced argument we could actually have a discussion. Sometimes you need stimulus and not
budget cutting. Timing is EVERYTHING.

Roubini has a pretty good track record on his predictions. Lets see if he is right about this.

Quote:

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Originally Posted by Havakasha

Absolutely nothing wrong with wanting to have your tax dollars used effectively. We ALL want that.

Its just pure propaganda and politics when people say Govt is the root of all evil. If there was a balanced argument we could actually have a discussion. Sometimes you need stimulus and not
budget cutting. Timing is EVERYTHING.

Roubini has a pretty good track record on his predictions. Lets see if he is right about this.

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Good to see you agree with common sense and logic!!! Now if you could onlly apply that in a bipartisan fashion!

I agree that I, I, I, have some common sense and logic. :D
Im quite non-partisan. I have never ever called you a twit. LOL.

John thinks he has "common sense and logic", but he is clearly an extreme ideoloque who doesnt try to listen to reason and or facts. For example he has been completely dishonest about his stock market predicitions for the past months. He clealy thought it was going to go down based on his political leanings and even suggested that people should limit the stocks they are in.
How can a TRUE Conservative not think he will be held accountable for his statements? :)