Roubini Expects a ‘Long, Ugly’ Recession and Stocks Sinking 40%
Roubini whose prescience on the housing bubble crash of 2007 to 2008 earned him the nickname Dr. Doom, said that those expecting a shallow US recession should be looking at the large debt ratios of corporations and governments.
As rates rise and debt servicing costs increase, “many zombie institutions, zombie households, corporates, banks, shadow banks and zombie countries are going to die,” he said. “So we’ll see who’s swimming naked.”
Bloomberg 20 september 2022
Nouriel Roubini said the US is facing a deep recession
as interest rates rise and the economy is burdened by high debt loads, calling those expecting a shallow downturn “delusional.”
Bloomberg 25 July 2022
https://englundmacro.blogspot.com/2022/07/nouriel-roubini-said-us-is-facing-deep.html
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