Dr. Doom strikes again
Could 2013 be *worse* than 2008? Just ask the world's most famous bear
When he was younger, Max Fawcett wanted to make a mint in the markets. Now as the managing editor of Alberta Venture he gets to write about them. Close enough, right? He can be reached at firstname.lastname@example.org
by Max Fawcett
You have to give Nouriel Roubini credit. The dour NYU economics professor, who earned the nickname “Dr. Doom” for his negative – and accurate – economic forecasts, has managed to double down on his own reputation. In an interview he gave recently that the Financial Post picked up (and no wonder), Roubini opines that 2013 will be “much worse” than 2008. The combination of a rapidly deterioriating Eurozone, a double-dip in the U.S., sharply slowing growth in the BRIC countries and the possibility of a war between Israel and Iran, not to mention a community of central bankers too spent to do anything about all of this, will conspire to crash the global economy next year. He calls it the “perfect storm” – perfect, one supposes, if you’re as consistently bearish as Roubini.