Economist Nouriel Roubini, famous for forecasting the credit crisis, warns again of a descent by the US economy into another recession. He called recent US housing market data "awful".
Roubini spoke to reporters from Kuala Lumpur.
Roubini said that the global economy will suffer several additional financial crises over the next ten years. He believes that current financial reforms discussed in the US and around the world are not enough and will not prevent additional crises. He said nothing has changed, calling US reforms "too little, too late".
The economist said that already now the situation feels like a recession, even if we are not technically in a recession. He warned that if macro-economic figures disappoint, we'll see a correction in stock markets, widening interest rate spreads in credit markets, higher volatility, growing investor aversion to risk - and all that can lead to economic shock."
Published by Globes [online], Israel business news - www.globes-online.com - on September 27, 2010
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