Nouriel Roubini: The Gathering Stagflationary Storm

with Stephen S. Roach, Nina L. Khrushcheva, Josep Borrell, Oleksandra Matviichuk, and more The Sunday Newsletter [View this message in a web browser]( [PS on Sunday]( MAY 1, 2022 This week at [Project Syndicate]( Nouriel Roubini warns that almost all the salient economic forces today are pointing in the direction of stagflation; Kenneth Rogoff predicts that Europe, China, and the United States will all enter downturns later this year; Nina L. Khrushcheva fears the security technocrats that wield power in Russia today far more than the siloviki of the past; and more. Economics & Finance [The Gathering Stagflationary Storm]( [Nouriel Roubini]( sees a preponderance of forces pushing most economies toward higher persistent inflation and slower growth. Economics & Finance [The Growing Threat of Global Recession]( [Kenneth Rogoff]( highlights the increasing risk of simultaneous downturns in China, the United States, and Europe. [Spring Sale, Save 50%.]( Politics & World Affairs [The Origins of Putin’s Totalitarianism]( [Nina L. Khrushcheva]( shows how Russia came to be controlled – and terrorized – by faceless security services all over again. Sustainability Now [Decarbonization Is Now a Strategic Imperative]( [Josep Borrell]( and [Werner Hoyer]( offer a blueprint for reducing Europe's dependence on Russian energy as fast as possible. [Life or Debt in Ukraine]( On Point [Life or Debt in Ukraine]( [Maurice Obstfeld]( [Yuriy Gorodnichenko]( et al. explain how the country's government and its creditors can stay ahead of severe financial trouble. Politics & World Affairs [Ukraine’s Fight Is the World’s Fight]( [Oleksandra Matviichuk]( warns of dire global consequences if Russian President Vladimir Putin’s aggression is allowed to succeed. Politics & World Affairs [Why Putin Wants to Destroy Ukraine]( [Jacek Rostowski]( examines the historical and psychological roots of the Russian president’s brutal war. [The Putin Slump]( The Big Picture [The Putin Slump]( [Mohamed A. El-Erian]( [Ngaire Woods]( and more assess the risk of a synchronized downturn – and outline measures that might help to mitigate it. Economics & Finance [Downside Risks to Global Growth]( [Stephen S. Roach]( pours cold water on the consensus forecast of a smooth glide toward a soft landing for the ages. Economics & Finance [America Has Stopped Playing by the Monetary Rules]( [Yu Yongding]( considers the long-run implications of the US decision to freeze Russia's official foreign-exchange reserves. [An Interview with Mark Leonard]( Say More [An Interview with Mark Leonard...]( on European security, the long-term impact of the sanctions against Russia, China’s view of the Ukraine war, and more Politics & World Affairs [Weapons Alone Will Not Resolve the Ukraine Conflict]( [Javier Solana]( explains why the West will sooner or later have to negotiate with Russian President Vladimir Putin. Politics & World Affairs [Why Is Macron Hated?]( [Ian Buruma]( argues that many voters’ visceral aversion to the French president reflects long-term shifts in party politics. [Catch all the conversations from out latest virtual event, Finance 3.0.]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. This newsletter is a service of [project-syndicate.org](. © Project Syndicate, all rights reserved. [Unsubscribe from this list](