Who is “Doctor Disaster” and why does his new prediction “make you shiver”? – Finance

Can you imagine that through your not-so-positive outlook, you gain the unenviable honor of being associated with disasters? This is the position of the economist Nouriel Roubini, who warned this week that the United States is heading into a deep recession.

The CEO of Roubini Macro Associates said: Bloomberg TV.

“The idea that this would be short and superficial is completely misleading,” he stressed.

How did Roubini get his nickname?

He did so in an unforgettable way: Roubini warned members of the International Monetary Fund of the disaster that was about to befall the United States and the world as a result of 2008 financial crisis. New York University professor’s notice was given two years earlier, in September 2006.

The academic listed the problems the world would see in the following months: the bursting of the real estate bubble Like never before; Low oil prices and a deep recession.

The event director said after Roubini’s warning, according to an account from The New York Timesindicating that there is no reason to fear the end of the world scenario, in which inflation and unemployment in the United States were at low levels, and the economy continued to grow, despite its weakness.

The crisis that will erupt months later will prove that the MBA is right and his “fame” will be enhanced.

Roubini is the co-founder and chairman of Roubini Global Economics, an independent market strategy research firm, and his website (Roubini.com) has been cited by numerous outlets including Bloomberg, The Economist, and The Wall Street Journal, among others.

The specialist was at one time associated with the US government, from 1998 to 2000 serving as the Senior Economist for International Affairs on the White House Council of Economic Advisers and then as Senior Advisor to the Under Secretary for International Affairs at the Treasury Department. ..

The International Monetary Fund, the World Bank, and many other leading public and private institutions have benefited from their experience as a consultantNew York University notes.

Why the new ‘Doctor Disaster’ predictions are worrying

Among the reasons Roubini cited for a new recession were historically high debt ratios In the wake of the epidemic. He specifically referred to the burden on advanced economies, which he warned would continue to rise.

She added that US debt has risen significantly since the 2008 financial crisis, which was followed by low inflation or deflation due to the credit crunch and demand shock.

“This time, we have Negative aggregate supply shocks accompanied by stagflation and historically high debt rates. In previous recessions, like previous recessions, we had massive cash and financial facilities. This time we are in a recession By tightening monetary policy. He warned that “we have no financial space.”

With information from Bloomberg and the New York Times

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