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Roubini Predicts Eurozone Collapse; World Markets To Follow
Noted American economist Nouriel Roubini says the eurozone is in the midst of crumbling, and with the rest of the world’s future at stake with a potential collapse, they might want to listen up — Roubini has been right before. Speaking privately at a get-together this week at his apartment, those in attendance have since leaked that Roubini, who manages the Roubini Global Economics firm, has low-expectations for resurgence in the eurozone. According to the economist, a collapse is imminent as the economy overseas gets more chaotic. There is a “significant risk of a Eurozone breakup,” sources say Roubini told a handful of select party guests recently, reports the Business Insider. Adds the economist, if the Eurozone goes under, “everything around the world goes sour.” Roubini has claimed that in the past he correctly predicted both the housing market crash and the worldwide recession, the aftermath of both is still evident in the crises across the globe. For his forecasting, Roubini has earned the title “Dr. Doom” from members of the media, who look to him for economic outlook and have been met with not-so-optimistic — and correct — assumptions from the analyst in the past. As the American economy continues to show slumping statistics and the unemployment rate stays at or above a stagnant 9 percent for months, a collapse across the pond could cause a catastrophe for the world economy. Sources say Roubini announced, “If the Eurozone blows up, it all gets worse.” Less than two weeks ago, Roubini had predicted that the odds of a eurozone collapse were one-in-two.
Russia Today “Unfortunately, in my view there is a risk, at least a 50 percent probability, that in the U.S., in the eurozone, in the United Kingdom, and in most advanced economies, the future in the next 12 months might suggest a recession, a downturn, rather than reacceleration of growth,” Roubini said on October 24 to Bloomberg. According to The Jakarta Post, that same day Roubini hypothesized dire conditions for the Chinese economy, noting that most of their gross domestic product is made through exports. Beijing and Washington have been at odds in recent weeks about a tariff that could raise the price of Chinese goods coming into the States and could cause economic woes for both nations. This week, the Business Insider reports that Roubini remains pessimistic about the future of China and says a build-up of non-performing loans at the banks and a large governmental debt will cause major problem in 2013, if not sooner.
8 Comments on "Roubini Predicts Eurozone Collapse; World Markets To Follow"
dsula on Fri, 4th Nov 2011 8:52 pm
Isn’t that the same guy who predicted total collapse of the world just after the 2008 crash ?
Alan Cecil on Fri, 4th Nov 2011 11:35 pm
dsula: just Google “Roubini the sky is falling” and you will get your answer.
Kenz300 on Sat, 5th Nov 2011 12:15 am
This guy keeps predicting the end of the world. It’s like listening to faux noise. You can predict everything they are going to say because they have an agenda and talking points.
Grover Lembeck on Sat, 5th Nov 2011 4:37 am
Alright, Kenz300, what are “they” going to say? Not that you don’t have some excellent talking points, but Roubini is a “he”. And yes, like us all, he has an agenda, I guess. Is there something wrong with that?
Roubini has an excellent analytical track record stretching back decades, so far as I can tell.
If you know what he’s going to say, you should jump out there and say it first!
Then all the accolades will go to Kenz300!
BillT on Sat, 5th Nov 2011 4:49 am
Perhaps his timing is off, but then, who could guess the many political and financial moves by all of the governments and the financial world to stave off disaster? Trillions have been printed and moved around the world like chess pieces, trying to prevent the eventual collapse.
He is correct in that it will happen. His timing is just being extended by unknowns, like the possible attack on Iran which will put the last nail in the coffin, but extend the final event for a while longer.
Bernd1964 on Sat, 5th Nov 2011 7:36 am
Nouriel Roubini predicted wrongly in 2009 that the ‘Gold Bubble’ will burst soon, when gold was around 1000 $ per ounce. I think Roubini is part of the global fiat money elite with the social tag ‘Harvard, Princeton, Yale – Bullets, Bombs, and Banks!’
Bernd1964 on Sat, 5th Nov 2011 8:02 am
I think the Euro was designed to fail from the beginning to cause a collapse that opens the door for elitist world government. The objective of Babylon’s bankers, aristocrats and religious elites (like the Catholic Church) is a new Roman Empire, a tyranny without any national sovereignty and private freedom.
PrestonSturges on Sat, 5th Nov 2011 3:48 pm
Year and year out, the people that lose everything are the people who are hypnotized by guys like this.
Maybe once a decade they turn a profit, but on average they are losing 20% to 50% annually.
But hey Roubini never has to do any actual analysis or write any new material.
I’m sure I made the same pitch year in and year out I’d get pretty convincing.