Salient to Investors:
Nouriel Roubini writes:
Expect a decade ahead of very low economic growth in the US, Europe, Japan and other advanced economies, with rising unemployment and social and political unrest. Unstable disequilibrium, is the new abnormal.
The economy was first anemic because of the financial crisis of too much debt, leverage and excessive risk taking in the private sector, households, banks, financial institutions, even corporations. Now it is anemic as a result of the resolution of the financial crisis using public debt and deficits.
Historically, when you start off with too much private and public debt, you endure a painful period of anemic growth that can last over a decade.
Read the full article at http://drnourielroubini.blogspot.com/2013/07/there-is-painful-period-that-can-last.html
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