Monday, June 13, 2011

Bloomberg News: Roubini Says a ‘Perfect Storm’ May Converge on the Global Economy in 2013

'Perfect storm' may devastate global economy

Roubini has said some interesting things in the past and I find much of what he discusses in the above article curious, to say the least.  Here is one example: "There are already elements of fragility,” he said. “Everybody’s kicking the can down the road of too much public and private debt. The can is becoming heavier and heavier, and bigger on debt, and all these problems may come to a head by 2013 at the latest.” 

I have this sneaking suspicion that things will come to a head before 2013, but it's becoming clear to pretty much everyone that the amount of debt the US is carrying is a huge problem.  And when many say the US is in more trouble than Greece, it's an even greater source of concern to those of us watching this slowly unfolding fiscal train wreck.  

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