Blockchain isn’t about democracy and decentralisation – it’s about greed | Nouriel Roubini

Cryptocurrencies such as bitcoin result in the concentration of wealth, not greater equalityWith the value of bitcoin having fallen by about 70% since its peak late last year, the mother of all bubbles has now gone bust. More generally, cryptocurrencie…

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How far will Trump go to keep his core supporters on his side? | Nouriel Roubini

He has sold out the blue-collar voters who brought him to power, while pursuing policies to enrich his fellow plutocrats

Donald Trump won the US presidency with the backing of working-class and socially conservative white voters on a populist platform of economic nationalism. Trump rejected the Republican party’s traditional pro-business, pro-trade agenda, and, like Bernie Sanders on the left, appealed to Americans who have been harmed by disruptive technologies and “globalist” policies promoting free trade and migration.

But while Trump ran as a populist, he has governed as a plutocrat, most recently by endorsing the discredited supply-side theory of taxation that most Republicans still cling to. Trump also ran as someone who would “drain the swamp” in Washington DC and on Wall Street. Yet he has stacked his administration with billionaires (not just millionaires) and Goldman Sachs alumni, while letting the swamp of business lobbyists rise higher than ever.

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Will world growth continue – or are we heading for a slowdown? | Nouriel Roubini

Following IMF’s World Economic Outlook, here are three scenarios for global economy in medium term

For the past few years, the global economy has been oscillating between periods of acceleration (when growth is positive and strengthening) and periods of deceleration (when growth is positive but weakening). After more than a year of acceleration, is the world heading towards another slowdown, or will the recovery persist?

The current upswing in growth and equity markets has been going strong since the summer of 2016. Despite a brief hiccup after the Brexit vote, the acceleration endured not only Donald Trump’s election as US president but the heightening policy uncertainty and geopolitical chaos that he has generated. In response to this apparent resilience, the International Monetary Fund, which in recent years had characterised global growth as the “new mediocre”, upgraded its World Economic Outlook in July.

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Why central banks are not hitting their 2% inflation target | Nouriel Roubini

Growth and inflation are out of sync in most developed nations, causing bubbles and crisesSince the summer of 2016, the global economy has been in a period of moderate expansion, with the growth rate accelerating gradually. What has not picked up, at l…

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