Nouriel Roubini: The Unavoidable Crash

with Jason Stanley, Angela Huyue Zhang, Josep Borrell, Stephen S. Roach, and more The Sunday Newsletter [View this message in a web browser]( [PS on Sunday]( DECEMBER 4, 2022 This week at [Project Syndicate]( Nouriel Roubini warns that mother of all economic crises looms, and there will be little that policymakers can do about it; Antara Haldar says that Elon Musk’s bull-in-a-china-shop eccentricities appear to be designed to distract from more egregious acts; Joseph S. Nye, Jr., urges the US to take careful but clear steps to strengthen its longstanding policy of “double deterrence” in Taiwan; and more. Economics & Finance [The Unavoidable Crash]( [Nouriel Roubini]( anticipates a stagflationary debt crisis, owing to a dangerous combination of inflation and over-borrowing. Culture & Society [Killing Twitter]( [Antara Haldar]( explains what Elon Musk fundamentally misunderstands about the platform – and about free speech. [Sign up for the morning brew newsletter]( Sponsored [Learn Something New Every Day]( Stay informed & entertained with [Morning Brew]( – the free daily email covering the latest news across business, finance, and tech. [Check it out!]( Politics & World Affairs [War Over Taiwan?]( [Joseph S. Nye, Jr.]( considers whether a deterrence arrangement that has worked for 50 years is still sufficient. Culture & Society [Elon Musk’s Not-so-Hidden Agenda]( [Jason Stanley]( thinks the mogul's takeover of Twitter reflects his interest in destroying all democratic information spaces. [PS Global Bookmark: The Contested Fed]( [The Contested Fed]( [James Livingston]( reviews three books that, each in its own way, reveal a central truth about the world’s leading central bank. Smart Development [No Easy Exit from Zero-COVID]( [S. Alex Yang]( and [Angela Huyue Zhang]( propose a strategy for loosening China's pandemic restrictions without triggering a nationwide health crisis. Politics & World Affairs [A Missed Opportunity in Bali]( [Stephen S. Roach]( explains why the Biden-Xi summit yielded little more than lofty rhetoric – and proposes a new approach. [PS Big Picture: The Crypto Emperor’s New Clothes]( [The Crypto Emperor’s New Clothes]( [Yanis Varoufakis]( [Kenneth Rogoff]( and more consider the likely impact of the FTX debacle. Politics & World Affairs [Why Europe and Latin America Need Each Other]( [Josep Borrell]( urges European Union and Latin American leaders to revive momentum toward a long-overdue trade agreement. Innovation & Technology [The Napoleons of Big Tech]( [Bill Emmott]( sees in the industry’s harsh reckoning this year lessons that apparently can’t be learned often enough. [PS Say More: Saadia Zahidi on public spending, debt distress, the Iran protests, and more]( [Saadia Zahidi on public spending, debt distress, the Iran protests, and more]( [Saadia Zahidi]( advocates customized and targeted social-safety nets, advocates a more responsible approach to deficit reduction and fiscal consolidation, and more. Politics & World Affairs [Russia’s Financial Crisis Must Come Sooner]( [Simon Johnson]( shows why a low price cap for the country’s crude exports would render the Kremlin’s war economy untenable. Politics & World Affairs [The Birth of a New International Order]( [Joschka Fischer]( sees global great-power relations taking shape around a Sino-American dominated pentarchy. [PS. Subscribe now to PS Digital.]( 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. Receipt of this newsletter does not guarantee rights to re-publish any of its content. This newsletter is a service of [project-syndicate.org](. © Project Syndicate, all rights reserved. [Unsubscribe from this list](