- Nouriel Roubini, an economist dubbed “Dr. Doom” for his gloomy-yet-correct prediction of the 2008 market meltdown, said the U.S. faces an even worse financial crisis in the near future.
- “In addition to the economic, monetary, and financial risks—and there are new ones—now we’re going towards stagflation like we’ve never seen since the 1970s,” Roubini said.
- Stagflation is a combination of sluggish growth and high inflation. Roubini also sees global threats.
- “We are on a confrontation with some revisionist powers like China, Russia, Iran, or [North] Korea that are challenging the geopolitical order of U.S. and the West. And that’s going to lead potentially to conflict,” he said.
