Economics
Shallow Recession Calls Are ‘Totally Delusional,’ Roubini Warns
- A reason Roubini cites is historically high debt ratios
- This time it ‘could be worse than ‘70s,’ economist says
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Economist Nouriel Roubini said the US is facing a deep recession as interest rates rise and the economy is burdened by high debt loads, calling those expecting a shallow downturn “delusional.”
“There are many reasons why we are going to have a severe recession and a severe debt and financial crisis,” the chairman and chief executive officer of Roubini Macro Associates said on Bloomberg TV Monday. “The idea that this is going to be short and shallow is totally delusional.”