NYU's Roubini: U.S. Can't Run Massive Deficits Forever

Filed under: Forecasts, Financial Crisis

New York University Economics Professor Nouriel Roubini, who accurately predicted the subprime mortgage default-induced financial crisis more than a year before it hit, is now cautioning the U.S. to not assume that the next stage of the financial crisis cannot return to U.S. shores.



"Bond market vigilantes have already woken up in Greece, in Spain, in Portugal, in Ireland, in Iceland, and soon enough they could wake up in the U.K., in Japan, in the United States, if we keep on running very large fiscal deficits," Roubini told Blooomberg News. "The chances are, they are going to wake up in the United States in the next three years and say, 'this is unsustainable.' "

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NYU's Roubini: U.S. Can't Run Massive Deficits Forever originally appeared on BloggingStocks on Fri, 21 May 2010 18:00:00 EST. Please see our terms for use of feeds.

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