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Dr Doom: Effectively, We Have Partial Nationalization Of Banks

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Published on May 12, 2009

Tue, 12 May 2009

Professor Nouriel Roubini, professor of economics at New York University and chairman of RGE Monitor, speaks with Poppy Harlow of CNNMoney about effective "partial nationalization" of some U.S. banks and the possibility of inflation two to three years in the future.

Several snippets of the interview:
"... that means that we have this, creeping, partial nationalization of a number of banks. So effectively, it's not a question of nationalization, yes or not, but whether it is complete or partial...",
"... with the public debt rising, and that's going to crowd out private recovery...",
"... of course, if you're going to have this very large budget deficit, and increasing public debt, and eventually you're going to print money to finance it, that could be, in two, three years from now, inflationary. So there is a risk of inflation down the line..."

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