Roubini Topic Archive: North America
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The Budget Compromise: Congress Creates a Rube Goldberg Doomsday Machine
Don’t you feel relieved? After weeks of threats, hostage-taking, and other forms of deficit terrorism, our two political parties have finally “compromised” on what was always a foregone conclusion. (As I write, we still await the Senate vote—but it looks like a done deal.) Washington got what it wanted—a down payment on destruction of the [...]
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Shock Doctrine and the Debt Limit
Naomi Klein’s book, Shock Doctrine: The Rise of Disaster Capitalism argued that crises are intentionally created to push the free market agenda. In the midst of a crisis, followers of Milton Friedman are able to destroy social protection and to install a virulent version of free market capitalism. Some years ago I made a similar [...]














