{"id":260200,"date":"2022-10-22T07:18:15","date_gmt":"2022-10-22T07:18:15","guid":{"rendered":"https:\/\/www.thetruthseeker.co.uk\/?p=260200"},"modified":"2022-10-23T07:33:27","modified_gmt":"2022-10-23T07:33:27","slug":"doctor-doom-predicts-worst-crisis-in-half-century","status":"publish","type":"post","link":"https:\/\/www.thetruthseeker.co.uk\/?p=260200","title":{"rendered":"\u2018Doctor Doom\u2019 predicts worst crisis in half-century"},"content":{"rendered":"<h1 style=\"text-align: center;\"><strong>RT.com \u2013 Oct 21, 2022<\/strong><\/h1>\n<p>Global financial markets should brace for a period of decline that echoes the crashes of the 1970s and 2008, according to renowned economist and New York University professor Nouriel Roubini.<\/p>\n<p>He told Bloomberg on Thursday that central banks will eventually give up on their monetary policy tightening before inflation is ever defeated. <em>\u201cIt\u2019s going to get ugly, the recession, and you\u2019ll have a financial crisis,\u201d<\/em> Roubini warned.<\/p>\n<p>He pointed to stocks that are down more than 20% this year, to strains in private equity, to a cooling in US real estate, and to a slumping credit market, where companies took advantage of years of low interest rates to pile on debt.<\/p>\n<p><em>\u201cInflation is not going to fall fast enough because you have the negative supply shock,\u201d<\/em> he explained, adding: <em>\u201cRemember, when you have negative supply shock, you get a recession and high inflation. We\u2019re not going to get a fall in inflation that\u2019s rapid enough to go to 2%.\u201d<\/em><\/p>\n<p>According to Roubini, the result of all this will be a period that combines the worst of the 1970s and the Global Financial Crisis. <em>\u201cThis is just the beginning of that pain. Wait until it\u2019s real pain. And then you have a major financial institution that may crack globally, not in the US maybe now, but certainly internationally,\u201d<\/em> he said.<\/p>\n<p><em>There are a couple of firms that are huge and systemic. They can go under. You might have another Lehman effect, then the Fed will have to wimp out. You\u2019ll have a severe recession and you\u2019ll have a financial market shock. They\u2019re going to wimp out for sure,\u201d<\/em> the economist warned.<\/p>\n<p>Roubini came to prominence for predicting the financial crisis of 2008-09 and was dubbed \u2018Doctor Doom\u2019 by Wall Street.<\/p>\n<p><a href=\"https:\/\/www.rt.com\/business\/565017-nouriel-roubini-financial-crisis-warning\/\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Roubini came to prominence for predicting the financial crisis of 2008-09 and was dubbed \u2018Doctor Doom\u2019 by Wall Street. Now he\u2019s predicting far worse to come<\/p>\n","protected":false},"author":39262,"featured_media":48984,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[66,26],"tags":[],"class_list":["post-260200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-Economics","category-Predictions_from_the_past_or_for_the_future"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/260200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/users\/39262"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=260200"}],"version-history":[{"count":1,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/260200\/revisions"}],"predecessor-version":[{"id":260201,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/260200\/revisions\/260201"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/media\/48984"}],"wp:attachment":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=260200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=260200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=260200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}