Nouriel Roubini Sticks To ‘Perfect Storm’ in 2013 Prediction!

[youtube=http://www.youtube.com/watch?v=ABsiGrpFkV0]

• Nouriel Roubini sticks to ‘perfect storm’ in 2013 prediction! 
  by Angela Monaghan, http://www.telegraph.co.uk/ 
  Nouriel Roubini, the economist who famously predicted the financial crisis, said he is sticking to his view that the global economy is on course for a “perfect storm” next year.
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  Mr Roubini, the New York University professor dubbed “Dr Doom”, said a number of unpleasant factors would combine to derail the global economy in 2013, including an escalation of the eurozone crisis.
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  Other factors included further tax increases and spending cuts in the US that may drive the world’s largest economy into recession; a hard landing for China’s economy; a further slowdown in emerging markets; and war with Iran.
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  “Next year is the time when the can becomes too big to kick it down [the road]…then we have a global perfect storm,” he told Reuters.
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  Following a flat year this year, he said US markets could be in store for sharp falls next years, with the Federal Reserve powerless to stop it. “There might be a weak rally because people are being cheered by more quantitative easing by [Chairman Ben] Bernanke and the Fed, but if the economy is weakening, that is going to put downward pressure on earnings growth,” he said.
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