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LONDON - The United States economy is a "tax train" wreck waiting to happen that risk inaugurate a period of stagnation featuring a minimum growth, high unemployment and a deflationary pressure, American Economist Nouriel Roubini wrote on Friday. History: Economy growing modestly in the third quarter

In a commentary for the Financial Times, Roubini - one of the first economists predict crash the United States housing and known as "Dr. fate" for his pessimistic forecasts - said fiscal and monetary stimulus prevented another depression.

But he said that more quantitative easing of likely to be announced by the Federal Reserve that next Wednesday will have little effect on us in 2011 growth, "it should be lifted to avoid a double dip recession tax policy", he said.

He said the remains of U.S. "unsustainable budgetary course" and the likely composition of Congress after the elections in which Republicans look strong gains, game virtually takes a tax reform off the coast of the agenda next Tuesday.

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"..., The risk is something on the fiscal plan will snap... trigger could be a reversal of the debt crisis in a major u.s. State Government"he wrote.""

"The worst of the coming fiscal train wreck is prevented by the reserve fédérale.Mais flexibilities risk is (Obama)... and then... chairs a stagnation of Japanese-style, where growth is barely positive and deflationary pressures and high unemployment to dwell."

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Tax Nouriel Roubini said the worst train wreck coming is prevented by the relaxation of the Federal Reserve, but the risk is stagnant Japanese-style. Photo: MARTIN POPE

He painted a bleak outlook for the global economy in a commentary for the Financial Times, then say that stimulus package President Barack Obama prevented one another depression, he came to an end which has nothing to take its place.

Economist - one of the first to predict the housing crash United States and dubbed "Dr. fate '-said the likely path of fiscal after the election of the next Tuesday will result in the country" experiencing serious drag tax just at the moment where he needs a coup of additional inch "."

While he said "growth now" face readers in other countries, including Britain, and M. Obama austerity deserved credit to prevent depression, he said stimulus has become a "dirty word" in political circles, including the Government.

This leaves the administration of Obama, based solely on the fed to "prevent a double dip recession" more quantitative easing - stimulus that it believes would have little effect on us growth next year.

He argued that, with a stalled in Congress should worsen thereafter elections next week, lack of President Obama looking forward – such as the fight against social security expenditures and introducing increases in VAT - action meant was stuck in a deadlock made worse "" by the absence of a reason to act on the deficit"."

This updated United States "unsustainable budgetary course."

"..., The risk is something on the fiscal plan will snap... trigger could be a reversal of the debt crisis in a major u.s. State Government"he wrote.""

"The worst of the coming fiscal train wreck is prevented by the reserve fédérale.Mais flexibilities risk is (Obama)... and then... chairs a stagnation of Japanese-style, where growth is barely positive and deflationary pressures and high unemployment to dwell."

View the original article here