An optimistic GCC recovery scenario from Nouriel Roubini « ArabianMoney

It was a little surprising perhaps to find an optimistic recovery scenario in the final pages of Professor Nouriel Roubini’s mendaciously gloomy new book ‘Crisis Economics: A Crash Course in the Future of Finance’. Well, that was the ArabianMoney interpretation from a UAE or GCC viewpoint.

Professor Roubini contends that by 2012 the world will be out of its deflationary cycle and could once again be facing inflation, particularly in commodity prices. Nothing would be better for the economic prospects of the UAE than a nice big rise in the price of oil.

However, in order to get to 2012 it is first necessary to take the pain of the rest of 2010 and 2011. Dr Gloom has no good news on that score.