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"Main Street Is Struggling Severely" - Nouriel Roubini Warns Wall Street Euphoria Ignores.

• https://www.zerohedge.com, by Tyler Durden

Speaking on Bloomberg Television Friday, Nouriel Roubini warned the stock market is completely disconnected from the dire economic outlook of a waning recovery amid continued depressionary pressures. 

Roubini told "Bloomberg Surveillance" the global economy is slowing, and another downturn could be ahead if a vaccine is not found in short order. 

He said the shape of the recovery is transforming from a "V" and is "becoming a U and the U could become a W if we don't find a vaccine and don't have enough stimulus."

Roubini, the chief executive of Roubini Macro Associates Inc., said the recovery on Wall Street doesn't reflect the real economy:

 "Main Street is struggling," he said.

Roubini said Europe's policies to protect workers are much more robust than the U.S., where tens of millions of folks are jobless, hungry, and face eviction. 

"The European system of greater social cohesion gives you better economic outcomes than the one of the United States that is just Wild West capitalism," he said."That's why the unemployment rate barely went up in Germany or even in Italy, while in the U.S. we've had double-digit unemployment rate and actually even worse, considering underemployment and so on."


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