Nouriel Roubini: 'Perfect Storm' Coming for Global Economy in 2013

A "perfect storm" of events will collide in 2013 and throw the world back to economic crisis, warns New York University economist Nouriel Roubini.

Roubini, who accurately predicted the timing and severity of the recent recession (December 2007), says investors have made overly optimistic U.S. growth expectations for the second half of the year and could get burned.

The economy will grow but at a sluggish pace, and those who haven't priced that assumption into their investment models are going to pay.

Category:

News & Politics

Tags:

• perfect
• may
• circle
• storm
• live
• lightning
• thunder
• def
• day
• tornado
• rain
• weather
• disaster
• jam
• flood
• wind
• mos
• thunderstorm
• leppard
• storms
• severe
• world
• cloud
• economy
• global
• tank
• stock
• news

[bluesboy25000]

I'm new to economics but wasn't Roubini right about this crash?

[mrzack888]

The world needs a new economic policy not based on outdated capitalism/communism outdated model. everything being taught in school now a days are outdated. The technology is outdated, the monetary fiscal policies are outdated, America's infrastructure is outdated, the tax system is outdated, the education system is outdated, the laptop that i'm typing on, which i bought a year ago, is also outdated. did i mention that the economic advice these jokers are giving are outdated?

[999qoou]

RON PAUL



[kennjohnsen]

@WeAreYourMaker

These numbers are cooked just like in the US, every nation in Europe is bankrupt, it's just a question about time before they all collapse. There is claims that the English debt is 1000 % of GDP, because of their financial sector ( London )

Corporations is not capitalism, rather it's fascism. And yes white-collar people like socialism, they are the one benefitting from the enlarged state.....it's not blue-collar their get the good administrative jobs, is it.

[kennjohnsen]

@WeAreYourMaker

Restructure is always the solution, private or state...society. That's right, individuals right to produce, deliver service to a marked, and for individuals right to choose product and service from the marked. Cruise ships avoid the Greeks Islands because it's to troublesome, too many permits. People import vegetables from Holland, because it's to troublesome/expensive to cross the Greek Islands, because each truck needs a permit.

[WeAreYourMaker]

@kennjohnsen Oh sure, it's high. And the rest of the world? Hows employment in other countries with socialist practices circa 2011? Germany; 5.5%. UK; 8.7%. Sweden; 7.7%. As far as I'm aware they're all have elements of socialism in their economies. I think what you need to be looking at is the competitive nature of an industry pertaining to a country; that defines the success of that industry and the ability to allow for a greater number of jobs. And now, answer my question below.

[WeAreYourMaker]

@kennjohnsen Restructured, restructured, restructured. You love that word. Tell me, how would a 'freer' Greek economy be any more successful than this planned one? Abolition of the minimum wage, maybe? Less OH&S laws, so that spending can be cut? What would you 'restructure'? This is what you mean right? Less government intervention, more profits for corporations, after all; that is capitalism.

And your 'white collar elites'; I doubt they're socialist.

[kennjohnsen]

@WeAreYourMaker

The entire Greek economy need to be restructered, from a state planned to a freer/free economy, and like anyone else there got himself in debt to over his head, Greek need a debt relief. If I was a Greek, and was the leader, I would declare Greek in receivership, just as a corporation, and take it from there. There are no other solution, the white-collar elites solution of more debt, is not a solution. But that's what the whole system is built on.

[kennjohnsen]

@WeAreYourMaker

That's right, you said it yourself first in your post. Don't you think 22,5 % is a sky high unemployment ?

[WeAreYourMaker]

@kennjohnsen I take it you mean the entire Greek economy, since you fail to mention any specific industry within Greece. In which case; you'd rather Greece default on it's debts? Extreme austerity, maybe? What solution is there?

[WeAreYourMaker]

@kennjohnsen Oh of course, by supporting an otherwise uncompetitive industry we are in fact reducing the competitive state of that industry. Yeah, I can see how you came to that conclusion. Of course the government wants to be in control, otherwise the unemployment rate would be sky high and chain reaction would ruin the US' investment portfolio. You paid no heed to my Corn scenario, and in such continue to give no real explanation as to how 'restructuring' could possibly work.

[kennjohnsen]

@WeAreYourMaker

Subsidies is a distortion of the market, and keep the subsidised industry to decline, there are plenty of example of that ( Greek is one ) It is a way for the Government to be in control. If the cost of corn production is to high, they must restructuring and bring down the cost, other than live on subsidies, it's a much more efficient way to produce.