Nr : I am not directly advising the administration .

鲁比尼：我不会直接担任奥巴马政府的顾问。

Nr : well , part of the answer is the degree of these policy actions .

鲁比尼：部分答案在于这些政策行动的程度。

Nr : it is going to be a year of economic stagnation and recession for most of the global economy with deflationary pressures .

鲁比尼：明年将是经济停滞的一年，全球多数经济体将出现衰退，并面临通缩压力……

Nr : we are going to avoid the great depression and a severe recession even if there is a risk of protracted slow economic growth .

鲁比尼：虽然经济可能出现长期增长缓慢的局面，但我们将会避免大萧条（greatdepression）和严重衰退。

Nr : I see another 15 to 20 per cent downside risk for us and global equities because in the next few months macro news and earnings news is going to be much worse than expected .

鲁比尼：我认为美国和全球股市可能还会下跌15%至20%，因为未来几个月，宏观经济和收益数据将远比想象的糟糕……