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Thread: Roubini: My 'Perfect Storm' Is Unfolding Now

  1. #1
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    Default Roubini: My 'Perfect Storm' Is Unfolding Now

    http://finance.yahoo.com/news/roubini-perfect-storm-unfolding-now-104907590.html
    "Dr. Doom" Nouriel Roubini, says the "perfect storm" scenario he forecast for the global economy earlier this year is unfolding right now as growth slows in the U.S., Europe as well as China.
    In May, Roubini predicted
    four elements - stalling growth in the U.S., debt troubles in Europe, a slowdown in emerging markets, particularly China, and military conflict in Iran - would come together in to create a storm for the global economy in 2013.

    "(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.


  2. #2

    Default Re: Roubini: My 'Perfect Storm' Is Unfolding Now

    Tank coming over to the doom and gloom camp? Should I be scared?

  3. #3
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    Default Re: Roubini: My 'Perfect Storm' Is Unfolding Now

    Quote Originally Posted by brucefan View Post
    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.

  4. #4

    Default Re: Roubini: My 'Perfect Storm' Is Unfolding Now

    The sad part is Mitt Romney will never be able to fix this

    He gets my vote for sure, but anyone who honestly thinks he will repeal Obamacare in full, and be able to make the cuts needed is kidding themselves

    My bigger fear is if Obama wins and has power when we crash what kind of big government 'solutions" could this guy come up with?

    How much power could a man like that grab in a crisis?


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