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Roubini Says a ‘Perfect Storm’ May Converge on the Global Economy in 2013

Posted By admin On June 13, 2011 @ 9:09 am In Money Watch | Comments Disabled

Shamim Adam
Bloomberg [1]
June 13, 2011

A “perfect storm” of fiscal woe in the U.S., a slowdown in China, European debt restructuring and stagnation in Japan may converge on the global economy, New York University professor Nouriel Roubini said.

There’s a one-in-three chance the factors will combine to stunt growth from 2013, Roubini said in a June 11 interview in Singapore. Other possible outcomes are “anemic but OK” global growth or an “optimistic” scenario in which the expansion improves.

“There are already elements of fragility,” he said. “Everybody’s kicking the can down the road of too much public and private debt. The can is becoming heavier and heavier, and bigger on debt, and all these problems may come to a head by 2013 at the latest.”

Elevated U.S. unemployment, a surge in oil and food prices, rising interest rates in Asia and trade disruption from Japan’s record earthquake threaten to sap the world economy. Stocks worldwide have lost more than $3.3 trillion since the beginning of May, and Roubini said financial markets by the middle of next year could start worrying about a convergence of risks in 2013.

Full article here [1]

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Roubini Says a ‘Perfect Storm’ May Converge on the Global Economy in 2013  161008pptv3 [3]

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URLs in this post:

[1] Bloomberg: http://www.bloomberg.com/news/2011-06-11/china-economy-at-risk-of-hard-landing-after-2013-nouriel-roubini-says.html

[2] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[3] Image: http://prisonplanet.tv/

[4] Roubini: My ‘Perfect Storm’ Scenario Is Unfolding Now: http://www.prisonplanet.com/roubini-my-perfect-storm-scenario-is-unfolding-now.html

[5] Roubini: Even If The Economy Doesn’t Technically Double Dip, It’s Still Going To Be Awful: http://www.prisonplanet.com/roubini-even-if-the-economy-doesnt-technically-double-dip-its-still-going-to-be-awful.html

[6] Roubini: The Economy Is So Weak Now That Any Shock Will Cause A Double-Dip: http://www.prisonplanet.com/roubini-the-economy-is-so-weak-now-that-any-shock-will-cause-a-double-dip.html

[7] Roubini’s Next Crisis Is Scary Food for Thought: http://www.prisonplanet.com/roubini%e2%80%99s-next-crisis-is-scary-food-for-thought.html

[8] Roubini: Japan Could Easily Be Next: http://www.prisonplanet.com/roubini-japan-could-easily-be-next.html

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