zombie system or nationalization? Nouriel Roubini keynote speach
Highlights of Nouriel Roubini’s keynote speach about the “long and dark night”:
- The recession will take approximately 24 months
- The recession started started dec. 2007 – so we are now in the 16th month of it
- Total losses for loans & securities originated by US Financial institutions may total $4 trillion
- It will take twice as long as the previous recession and end at earliest end of 2009
- The financial system, in aggregate, appears insolvent
- Either the markets will take a U (and we are already at the lower part of the U) or the markets perform like a L (as the Japan markets did)
- We can either go the route of Sweden (nationalization) or Japan (Zombie financial system)
what do you think?
economy, europe, japan, keynote, nationalization, recession, sweden