Roubini also isn’t too impressed with the venture capital firms, such as Sequoia Capital, that poured money into FTX.
“Dumb VCs!” គាត់បានធ្វីតធ្វីត .
“U get a bizarre f-ing process that does not look like the paragon of efficient markets. VCs see what all their friends are chattering about & their friends keep talking about this company. And they start FOMOing [fear of missing out] & then find a way to get into that,” he tweeted.
Roubini isn’t passing out any awards to the government of the Bahamas, where FTX is based, either.
“The Bahamas is a pathetic & corrupt banana republic, with the worst supervision and regulation of crypto scams,” Roubini tweeted . “After this FTX scandal one should wonder why it is a sovereign state!”
Roubini’s Dire Economic Forecast Meanwhile, when it comes to the economy, Roubini is skeptical that the បម្រុងសហព័ន្ធ ’s interest-rate increases will result in a ការចុះចតទន់ , where it quells អតិផរណា without sending the economy into a ការធ្លាក់ចុះសេដ្ឋកិច្ច .
Since World War II, there has never been a case where the Fed achieved a soft landing with inflation above 5% and ភាពអត់ការងារធ្វើ below 5%, Roubini wrote on Project Syndicate . Unemployment registered 3.7% in October.
We aren’t in a recession yet, he said. But the data “points to a sharp slowdown that will grow even worse with monetary-policy tightening,” he said. “A hard landing by year’s end should be regarded as the baseline scenario.”
While some economists foresee a mild, short recession, Roubini doesn’t. Rather, he expects a “protracted stagflationary debt crisis.”
And, “the latest distress in financial markets – including bond and credit markets – has reinforced my view that central banks’ efforts to bring inflation back down to target will cause both an economic and a financial crash,” Roubini said
As for stocks, they “have not yet fully priced in even a mild and short hard landing,” he said.
“Equities will fall by about 30% in a mild recession, and by 40% or more in the severe stagflationary debt crisis that I have predicted for the global economy.”