Roubini predicts eurozone collapse; world markets will follow

[robertpaulsen]

Source: RT

Noted American economist Nouriel Roubini says the eurozone is in the midst of crumbling, and with the rest of the world’s future at stake with a potential collapse, they might want to listen up — Roubini has been right before.

Speaking privately at a get-together this week at his apartment, those in attendance have since leaked that Roubini, who manages the Roubini Global Economics firm, has low-expectations for resurgence in the eurozone. According to the economist, a collapse is imminent as the economy overseas gets more chaotic.

There is a “significant risk of a Eurozone breakup,” sources say Roubini told a handful of select party guests recently, reports the Business Insider. Adds the economist, if the Eurozone goes under, “everything around the world goes sour.”

Roubini has claimed that in the past he correctly predicted both the housing market crash and the worldwide recession, the aftermath of both is still evident in the crises across the globe. For his forecasting, Roubini has earned the title “Dr. Doom” from members of the media, who look to him for economic outlook and have been met with not-so-optimistic — and correct — assumptions from the analyst in the past. As the American economy continues to show slumping statistics and the unemployment rate stays at or above a stagnant 9 percent for months, a collapse across the pond could cause a catastrophe for the world economy.

Read more: https://rt.com/usa/news/roubini-eurozone-collapse-world-587/

[Maccagirl]

1. Does he have a solution?

n/t

[BOG PERSON]

2. i have the solution:

a Third World War

[jwirr]

15. War does not seem to pay off like it used to. Maybe because we

have reached the point of overstretch - we have gone too far.

[BOG PERSON]

16. counterinsurgencies don't pay off

a major war between great powers will though.

[truedelphi]

26. We also don't have the ability to manufacture anything - how would it work ?

We'd ask China to make up all the steel and armaments we would need so we could fight them?

Or what?

[blkmusclmachine]

28. I think we've been IN a Third World War since 9/11:

Even if the Oligarchs won't print it.

[cutlassmama]

3. this is bad, very, very bad

[formercia]

6. Especially since US Banks issued Credit Default Swaps to cover Sovereign Debt in the EU.

If the EU falls, the US Banks will be right behind them.

[Bok_Tukalo]

4. He has accurately predicted six of the last two collapses.

<OPE>

[Lochloosa]

5. Ok...that took me a minute...

[DocMac]

7. “everything around the world goes sour.”

Even Brazil??

[BOG PERSON]

8. why would brazil be the exception?

[DocMac]

12. Brazil has many oil drilling areas.

But they only sell it for the most part. They have a lot of natural resources.

I don't buy into that every nation will suffer.

[Fool Count]

17. Because Brazilians never get sour. I bet they will find a way to

make the global economic collapse into a party somehow.

[FourScore]

9. Whoa! n/t rec

[walerosco]

10. I saw it coming a couple of months ago

Its easy to spot the collapse when the writing is all over the fricken wall. Ofc, the collapse can still be avoided if the TPTB decides to do the right thing.

[rusty fender]

11. What is the right thing to do?

:shrug:

[walerosco]

20. you do exactly what Iceland did

give the middle finger to the banks and tell em to fuck off. The creditors need to admit that they lend money the wrong country and learn to live with their mistake. Greece is sure going to feel the pain but it would be infinitely better to take your chops now than later.

[elleng]

23. Thanks; good one.

Everyone talks about 'failure' without specifying exactly what it means: having invested in bonds with no realistic chance that they could be honored were the most broad and foolhardy acts imaginable, and that's what happened. Fuggadaboutit, and establish a new, honest, workable system.

[Warpy]

13. I can see it happening. I can also see the PIIGS countries cut off

from the Eurozone to meet their separate fates without much damage to the rest. Or at least the PIIG, Spain is a little too important to allow to fail. Whatever happens, it's going to be very interesting.

And it's a good thing I know how to be poor. I have a feeling I'll be doing it again soon.

[socialist_n_TN]

18. Portugal, Ireland, Italy, Greece and Spain

might as well go ahead and begin forming the United Socialist States of Europe. Start making contact right now with some of the Latin American countries and Iceland in order to work out trade deals with sympatico states. They're going to need to help each other.

[Lucky Luciano]

21. Italy has $2.3T. That is a big ship to sink. nt

[Johnny Noshoes]

14. So...

So if this big collapse is coming should I even bother to keep looking for a job. I mean at 57 it has been no luck so far and I don't see much of any chance of snagging one anytime soon.

[shanti]

25. how are you surviving so far?

[Johnny Noshoes]

27. I'm hangin in there...

I actually get by on UI. I've applied for 18 jobs in nine weeks and it is like the resume goes off into some black hole. Since the company I worked for went bankrupt there's all kinds of redtape to deal with before I can get my hands on my 401k money. Yes I'm going to take some of it and put the bulk of it into an IRA. I'm going to need some cash just as a backup cushion. The UI runs out I believe at the end of February and I get the feeling I'm going to have to take some crappy job not even remotely related to what I used to do but I'll do what has to be done. I realize that there are people in a lot worse shape than me so hey I'll figure it all out.

[shanti]

29. sending positive vibes to you

it's difficult being unemployed, but doubly so when you're of a "certain age".

[Johnny Noshoes]

30. Thanks

I can use all the positive vibes I can get as can a LOT of us.

[socialist_n_TN]

19. He was also the economist who recently wrote that

Marx was right. :)

[elleng]

24. Yes, he did, and he and Marx were right, imo.

http://online.wsj.com/video/nouriel-roubini-karl-marx-was-right/68EE8F89-EC24-42F8-9B9D-47B510E473B0.html

[Prometheus Bound]

22. Of course it will collapse. But they can and will delay it for 5 years.

Just kick the can further down the road, which will only make things worse when the end truly comes.