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The current credit crisis will not be resolved until the prolonged slump in housing comes to an end, he said.
Since oversupply, more than available financing, is driving the direction of the housing market, no measure taken by the government will "stem the housing correction"- it will need to run it’s course. Paulson is wrong- it takes years to fix a problem like this.
Dr. Nouriel Roubini 9/16/08
Since Roubini says the credit crisis will continue until the housing market finds it's bottom, that means that bailing out financial institutions can't help. further more, it means that the fed can't continue to bail them out since many, many more lie ahead.
Roubini is the hottest economist in the world right now. Companies are flocking to him for advice from all over the world.
I find comfort in knowing that no matter what actions the fed takes, the market naturally find it's bottom! We should all be greatful. It is what our economy needs most.
"BUBBLE ECONOMICS" IS DEAD!
Last edited by PatriotsReign; 09-17-2008 at 01:50 AM..
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