Economist Nouriel Roubini’s New Glasses & Migraine

Jun 13, 2011
J. Webster
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I don’t know if there’s a connection between Nouriel Roubini’s new glasses and the painful migraine he suffered recently, usually when you get glasses the headaches go away because you don’t have to squint so much. However, if you’re constantly predicting doom and gloom, it starts to wear on you, and glasses just won’t help that. Once again Roubini was forecasting woe for the world economy, this time he said there was a perfect storm brewing that would fall upon the world markets in 2013. Sounds similar to all that rapture talk. But, Roubini is quite serious, and he outlines his reasons clearly below:

A “perfect storm” of fiscal woe in the U.S., a slowdown in China, European debt restructuring and stagnation in Japan may converge on the global economy, New York University professor Nouriel Roubini said.

There’s a one-in-three chance the factors will combine to stunt growth from 2013, Roubini said in a June 11 interview in Singapore. Other possible outcomes are “anemic but OK” global growth or an “optimistic” scenario in which the expansion improves.

“There are already elements of fragility,” he said. “Everybody’s kicking the can down the road of too much public and private debt. The can is becoming heavier and heavier, and bigger on debt, and all these problems may come to a head by 2013 at the latest.”

Full story over at Bloomberg.

My head would hurt too if I only saw dead economies everywhere I looked. Do you think Roubini will ever say the economy is running strong and there’s nothing to worry about? Of course it’s tough these days, jobs are hard to find for many, and some jobs aren’t going to come back. Let’s hope things do turn around though, so we all don’t end up with migraines.

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