Wednesday, June 13, 2012

Roubini is right

One of the very few experts who correctly predicted the economic meltdown of 2008, Nouriel Roubini told Germany to Stop "the Savings Madness":
Governments in Europe should lower taxes and increase salaries to boost growth rather than insisting on austerity and continued saving, famous economist Nouriel Roubini told a German newspaper in an interview on Tuesday.

Roubini also said the German government should give its citizens incentives to go on holiday in countries in the south of Europe that were affected by the debt crisis to help those states recover.
Not that anyone will listen to him. The Very Serious People Who Were Wrong About Everything hate it when someone like Roubini makes them look like idiots, so they'll just pretend they can't hear him.

[More posts daily at the Detroit News.]

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