This is the man that Obama needs to put on speed dial.
Global Economy Will Suffer More Financial Crises in Next 10 Years: Roubini
The global economy will suffer a “couple of financial crises over the next 10 years” as financial reforms are not going in the right direction and not enough is being done, warned Nouriel Roubini, chairman at Roubini Global Economics.
“Nothing has changed fundamentally. When the regulatory reform was passed by the U.S. Congress, my view is too little, too late,” Roubini told CNBC Monday on the sidelines of the World Capital Markets Symposium in Kuala Lumpur, Malaysia.
Roubini said even if the world economy doesn’t slip into a double-dip, the effects will still be felt.
“We are already in a situation which is going to feel like a recession, (even) if we are not in one,” he said.
“And if the economic data surprise on the down side, we are going to have a correction of the stock markets, widening of credit spreads, increased volatility, increase risk aversion, then it leads to a shock for the real economy.”
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