Trump’s ‘Flirting With Mutually Assured Economic Destruction’ says Crypto Critics Nouriel Roubini

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

 

In an article published on MarketWatch, crypto critic Nouriel Roubini affirmed that the risk of a financial market has developed significantly, mainly due to President Trump. While stock exchange lists became 20% in 2017, markets have been exchanging sideways for a major part of 2018, followed by steep drops across several sectors as markets closed for 2018.

A professor of economics at the Stern School of Business at NYU, Roubini said:

Trump is now the Dr. Strangelove of financial markets. Like the paranoid madman in Stanley Kubrick’s classic film, he is flirting with mutually assured economic destruction. Now that markets see the danger, the risk of a financial crisis and global recession has grown.

Roubini stated that the growth in stock markets over 2017 can be attributed to tax cuts, which have accrued mainly to corporate entities. Secondly, the trump administration is ambitious towards deregulation within certain sectors.

Recently the Trump has undergone the hiked rates by the quarter point, Secondly, the trump administrative aspire towards the deregulation with the certain sectors. 

 

 

Roubini has bashed cryptocurrencies and bitcoin general stating, that the  “Crypto is the mother or father of all scams and bubbles,” along with other severely dangerous claims, even going as far as taking a shot at stablecoins which have gained steam throughout 2018.

Nouriel Roubini said: 

“And the biggest scam of all is the case of ‘stable coins’ starting with Tether that claimed to be pegged one to one to the US dollar but are not fully collateralized by an equal backing of true US dollars.”

Where the market has shaky close toward the end of 2018, which is mostly attributed to uncertainty surrounding China. Roubini states that recent troubles are due to Trump. Tax cuts have pushed the Long-term interest rate.

Trump’s immigration policies might affect the growth of labour-supply which can have grave implications, given Silicon Valley’s dependence on foreign talent.

Now that financial markets see the danger of the Trump presidency, the risk of a financial crisis and global recession has grown. Trump is now the Dr. Strangelove of financial markets. He is flirting with mutually assured economic destruction. Now that markets see the danger, the risk of a financial crisis and global recession has grown.

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