Roubini's Crisis Economics and the Great Depression in 2020

Roubini's Crisis Economics emphasizes that capitalism and economic crisis go hand in hand and the economic or financial crisis can be predicted, strangled in the cradle, and prevented and responded to through thorough reform. Based on Roubini's Crisis Economics, it is not difficult to see that the great depression in 2020, which was much more serious than the Great Depression in 1930s, did not have the serious consequences of the Great Depression of the 1930s. The US quickly restored economic growth because the government adopted the unprecedented ultra-loose monetary policy and large-scale fiscal stimulus policy and strangled the crisis in the cradle. But it has also made it difficult for the U.S. government credit to withdraw from the market. The US economic structure, which is dominated by the service industry, cannot be re-industrialized. Therefore, the decline of American hegemony has become an inevitable historical trend.