A great depression can still be avoided

Nouriel Roubini
How to prevent a depression .... The latest economic data suggests that recession is returning to most advanced economies, with financial markets now reaching levels of stress unseen since the collapse of Lehman Brothers in 2008. The risks of an economic and financial crisis even worse than the previous one – now involving not just the private sector, but also near-insolvent sovereigns – are significant. So, what can be done to minimize the fallout of another economic contraction and prevent a deeper depression and financial meltdown? – Reuters/opinion by Nourel Roubini (left)
Dominant Social Theme: A great depression can still be avoided if the proper steps are taken and FDR's example is followed.
Free-Market Analysis: Nouriel Roubini – Dr. Doom – has posted an article (see above) at Reuters on how the world can avoid a "fiscal train wreck" and "deeper depression." In this article, we'll review his prescriptions and assumptions.
Roubini is often portrayed as a prescient mainstream economist, someone who doesn't let sentiment or stale thinking interfere with clear-eyed reality. He is thus a kind of human dominant social theme, a metaphorical promotion in-the-flesh, an economic maverick who is supposed to have predicted both the collapse of the United States housing market and the worldwide recession.
Given his track record and maverick tendencies, Roubini has an air of credibility about him.
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