The fiscal policy that the U.S. is pursuing is “opposite of the optimal” for a weak economy, said Nouriel Roubini, known as Dr. Doom for predicting hard times before the global financial crisis began in 2008.
Italy’s political impasse extended into a second month as a 10-man committee named by President Giorgio Napolitano started work on building consensus toward a new government before his term expires in six weeks.
The rally in global equity markets isn’t reflecting risks to economic growth from the European debt crisis and U.S. spending cuts, said Nouriel Roubini, the New York University professor famous for predicting the 2008 crisis.
Bulgaria was too strict with austerity as energy prices soared, angering voters and bringing down the Cabinet, said Nouriel Roubini, the New York University professor who predicted the 2008 global financial crisis.
A Greek default could trigger a global economic shock on the scale of that suffered after Lehman Brother Holdings Inc.’s 2008 failure, said Nouriel Roubini, chairman and co-founder of Roubini Global Economics LLC.
China’s efforts to prop up economic growth won’t help it escape the hard landing that will probably arrive in 2013 or 2014, said Nouriel Roubini, chairman and co- founder of Roubini Global Economics LLC.