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More Thoughts on the Economy Part XI

By Andy Shaw | January 25, 2010

Originally Posted 29th January 2009

Robert Peston

One of the many commentators I read is Robert Peston. A lot of his articles are just noise but being the head of business reporting, the guy does get to grab some great interviews and insight. Yesterday he  interviewed George Soros and Nouirel Roubini. I recently looked at Roubini’s calculation for losses in the UK and in the US. In the UK he said $2 Trillion losses and in the US $3.6 Trillion. I think he could be fairly accurate (+£250 – £500 billion) regarding the UK. However, I think the cumulative effects of what he mentions happening with the US cause a much larger spiral than in the UK and as such I would say that this is once again yet another underestimation of the damage to the US economy.

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Topics: Government, The Economy | Comments Off

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