Preventing the Great Depression 2: Nouriel Roubini

Nouriel Roubini outlines recommended steps to prevent the double dip recession from collapsing into a full-fledged global depression (aka Great Depression II) here

Dr. Roubini: "The risks ahead are not just of a mild double-dip recession, but of a severe contraction that could turn into Great Depression II, especially if the eurozone crisis becomes disorderly and leads to a global financial meltdown. Wrong-headed policies during the first Great Depression led to trade and currency wars, disorderly debt defaults, deflation, rising income and wealth inequality, poverty, desperation, and social and political instability that eventually led to the rise of authoritarian regimes and World War II. The best way to avoid the risk of repeating such a sequence is bold and aggressive global policy action now."