Nouriel Roubini, co-founder and chairman of Roubini Global Economics LLC, said the current slowdown in the world economy has brought forward the timing of a new financial crisis.
“I thought a few months ago that the perfect storm would be 2013,” Roubini said in an interview in London today. “But now, the economic weakness in the U.S., euro zone and the U.K. is front loaded. So we’re going to double dip earlier. The climax of it could be 2013, or it could be already earlier. It depends on what policy tools are available.”
Three years after the collapse of Lehman Brothers Holdings Inc., financial shares in Europe are under assault and there’s a 60 percent probability that most advanced economies will fall into a recession
“You need to restore economic growth, not five years from now, you need to restore it today,” Roubini said. “In the short term, we need to do massive stimulus, otherwise there’s going to be another Great Depression. Things are getting worse and the big difference between now and a few years ago is that this time around we’re running out of policy bullets.”
http://www.bloomberg.com/news/2011-09-06/roubini-says-global-economic-slowdown-accelerating-next-financial-crisis.html
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