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Renowned economist Nouriel Roubini was nicknamed “Dr. Doom,” until his prediction of the 2008 housing crisis and Great Recession came true – when it was too late. Now he is back with…
Elsewhere in the archive
Reporting on the increased perceived risk of a double-dip recession, the Huffington Posted noted how there is “..a growing sense of doom among some prominent economists“. They went on to cite Nouriel…
From the archive
Risk of a double dip recession in advanced economies (US, Japan, Eurozone) has now risen to 40%.
— Nouriel RoubiniEconomist known for predicting the 2008 financial crisis.
Risk of a double dip recession in advanced economies (US, Japan, Eurozone) has now risen to 40%.
— Nouriel RoubiniEconomist known for predicting the 2008 financial crisis.
We run the very real risk now, not of going back to the 1970s, but of going back to the 1930s or 40s with economic and financial collapse, massive pandemic, and real-world wars.
— Nouriel RoubiniEconomist known for predicting the 2008 financial crisis.
Today, there is uncertainty like we've never seen before. We are not only facing economic risks, but real social, political, geopolitical, technological, and environmental risks too.
— Nouriel RoubiniEconomist known for predicting the 2008 financial crisis.
I have grey hair, I'm 64. I grew up in Italy in the 1960s, 70s and early 80s. When I grew-up, I never worried about nuclear war, global pandemic, technology destroying jobs, climate change destroying the world, or stable democracies being taken over by authoritarian extremists.
— Nouriel RoubiniEconomist known for predicting the 2008 financial crisis.
Until now, we had an insolvency problem – but we didn't have a liquidity problem that could trigger that insolvency because interest rates were so low. Now they're rising, and the mother of all debt crises is going to occur.
— Nouriel RoubiniEconomist known for predicting the 2008 financial crisis.
We are facing the mother of all debt crises. When you look at the data on private and public debt, the debt to GDP ratio was near 200% of global GDP in 1999, today it's more like 350% and rising. In advanced economies, it's over 420% and in China, 330% and rising.
— Nouriel RoubiniEconomist known for predicting the 2008 financial crisis.
Today, we have the worst of the 1970s, with multiple different types of negative supply shocks and not just one.
— Nouriel RoubiniEconomist known for predicting the 2008 financial crisis.
The high debt ratios also masked the zombie households, zombie corporates, zombie businesses, zombie banks, zombie shadow banks, zombie governments and zombie countries. They never went bankrupt.
— Nouriel RoubiniEconomist known for predicting the 2008 financial crisis.
Until now, we had an insolvency problem – but we didn't have a liquidity problem that could trigger that insolvency because interest rates were so low. Now they're rising, and the mother of all debt crises is going to occur.
— Nouriel RoubiniEconomist known for predicting the 2008 financial crisis.
We are facing the mother of all debt crises. When you look at the data on private and public debt, the debt to GDP ratio was near 200% of global GDP in 1999, today it's more like 350% and rising. In advanced economies, it's over 420% and in China, 330% and rising.
— Nouriel RoubiniEconomist known for predicting the 2008 financial crisis.
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