Living up to his nickname of “Dr. Doom,” Roubini recently laid out a
terrifying scenario that will spell financial disaster for those
unprepared for an “economic train wreck” in 2013.
The “perfect storm” that Roubini predicts is a convergence of
four events: [1] Emerging markets (especially China) are slowing down much
faster than anyone expected; [2] the eurozone is a complete mess, with
Spain, Italy, and Portugal all teetering on the verge of insolvency; [3]
continued high unemployment; and [4] rising inflation, which continues to
threaten to push the United States back into recession.
Roubini also adds another worry: [5] He expects a military conflict
in Iran that will double oil prices “overnight,” adding to the financial
misery felt by millions of Americans.
Unfortunately, the tricks the government used during the 2008 financial crisis won’t rescue the country this time
Read more: Economist Warns: Prepare for 2013 Global Meltdown
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