Nouriel Roubini has been consistently bearish throughout the recovery. Roubini’s popularity eroded as his bearish predictions about the U.S. economy turned out wrong. Recently Nouriel Roubini was the guest on Turkey’s Bloomberg HT television and talked about the Turkish economy. Last week the Turkish Institute of Statistics announced that Turkey’s 2011 Q1 growth rate was 11%. This is even higher than China’s cooked growth rates. So Roubini’s recommendation to Turkey was to raise interest rates and control capital flows to cool down the economy. Clearly Roubini is uneducated about the Turkish economy and the figures released by the Statistics Institute. Here is why Roubini is wrong:
