Barton Biggs: We’re at Risk of ‘Catastrophic’ Global Recession
October 27 — Barton Biggs, managing partner of hedge fund firm Traxis Partners, says the world is threatened by a "catastrophic" recession while European leaders are trying to impose austerity – mostly on other European nations – as a way to escape the continent’s debt crisis.
But Biggs says that’s not the way to go. “In general, I think austerity is a big mistake,” he tells Yahoo. “We’re threatened with a global double-dip recession, which I think would be catastrophic for the world and social order. We’ve got to have fiscal stimulus to get out of it, and then we can deal with other issues.” Read more.
