Nouriel Roubini’s List of "Why Things are Hopeless"

By on November 16, 2008

Naked Capitalism published Nouriel Roubini’s latest long list (20 items) of why things are hopeless.

A couple of examples:

  • The US consumer is debt burdened with the debt to disposable income having increased from 70% in the early 1990s to 100% in 2000 and to 140% in 2008.
  • Mortgage equity withdrawal (MEW) is collapsing from $700 billion annualized in 2005 to less than $20 in Q2 of this year. Thus, with falling housing wealth and collapsing MEW US households cannot use their homes anymore as ATM machines borrowing against them.

The complete list can be read at:

http://www.nakedcapitalism.com/2008/11/roubinis-latest-why-things-are-hopeless.html#Statistics

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