Recovery has been Anaemic in The West

"“Recovery has been anaemic in the West, around 2 per cent on average and slower in Japan.

“There is still deleveraging going on. The name of the game is monetary stimulus, but this is causing asset inflation, rather than goods inflation or increased employment. We are beginning to see signs of frothiness in global markets again, while equity prices are high and price [to] earnings ratios [a measurement of equity values] above historical averages,”

at http://www.roubiniblog.com/2013/12/recovery-has-been-anaemic-in-west.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+NourielRoubiniBlog+%28Nouriel+Roubini+Blog%29