"(The) 2013 perfect storm scenario I wrote on months ago is unfolding," Roubini said on Twitter on Monday.
Chinese inflation data released on Monday, suggested that the economy is cooling faster than expected, while employment data out of the U.S. on Friday indicated that jobs growth was tepid for a fourth straight month in June.
Roubini said that unlike in 2008 when central banks had "policy bullets" to stimulate the global economy, this time around policymakers are "running out of rabbits to pull out of the hat."
Policy easing moves by the European Central Bank (ECB), Bank of England (BoE) and the People's Bank of China (PBoC) last week did little to inspire confidence in global stock markets.
"Levitational force of policy easing can only temporarily lift asset prices as gravitational forces of weaker fundamentals dominate over time," he said.
Bill Smead, CEO of Smead Capital Management, agrees that there is little central banks can do arrest the global slowdown.
Last week, he told CNBC that there is "virtually zero chance" that pump-priming by central banks will succeed, suggesting that policymakers should instead let the economic bust work itself through the system.
Tank coming over to the doom and gloom camp? Should I be scared?
I took a management job in sales and planning over a year ago and the people that have worked there for a long time say this year is going to be worse then 2008.It is going to get worse before it get's better unless thinking that adding 60 k jobs a month is going to get us out of this mess. Now on top of that people have to worry about paying for Obamacare.
I just don't see anyway out of this.