Roubini, Zuckerman, and Ferguson Debate the End of the Recession

wallstreetpit.com

Is the end of the recession finally at hand? Economics Professor, Nouriel Roubini; US News & World Report Editor-in-Chief, and real estate billionaire, Mort Zuckerman; and economic historian Niall Ferguson discuss with CNN’s Fareed Zakaria the current state of the economy, the looming CRE crisis, greenback’s status, and why the $787 billion economic stimulus plan hasn’t created much stimulus. According to their opinion, adding a stimulus package on top of an already existing U.S. fiscal crisis, which was structural in nature, wasn’t the right strategy. Their consensus is that the majority of policies and efforts of lending support to demand and laying the groundwork for a return to growth, were not structurally sound and had very little to do with the severity of the recession. Even when the recovery starts it won’t feel much like one they say, because the job markets — with unemployment projected at peaking at 11% — will remain weak until businesses gain confidence in the upturn’s sustainability.