Nouriel Roubini predicts a perfect storm.
This won't make your day, but it's worth listening to. Nouriel Roubini explains how the world is heading into a 'perfect storm' of financial disaster in 2013 - including a possible recession in the U.S., a "hard landing" in China, a U.S./Israel-Iran war, a crash of (currently weakening) emerging market economies and, of course, the ongoing implosion of the Eurozone.
To top it off, Roubini notes that the world is also in a much weaker position to deal with the potential calamity now than it was in 2008 when crisis struck. Most of the "policy bullets" such as low interest rates and stimulus have been fired. "Too big to fail" banks are now even bigger.
That said, there's still room for some optimism: a war with Iran is not inevitable and the Chinese and American economies may surprise on the upside. Europe, though, looks in rough shape no matter how you slice it.
