CHINA : The Global “double-dip” : Roubini

The talking heads cannot get clear of the fog of material coming out from ‘official’ sources.

The best minds watching the market are seeing clearly, no illusions, Roubini is telling the truth in this video discussion with the CNBC crew. His view is absolutely correct, real-estate is still on life support, no durable goods growth is needed at all meaning the continued constriction all over the place and labor statistics are going to continue to be wiped out in the private sector. Government spending cannot change the situation at all over the short term, de-leveraging must continue.

Fiscal irresponsibility on the part of governments will eventually bring down the whole system and Roubini is seeing clearly when he points out the continued QE will have to be done and once that avenue of relief has run out there are few other options left.

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