In 2006, Dr. Nouriel Roubini, head of a global
economics research company delivered a speech to
the annual meeting of the International Monetary
Fund warning of a looming, systemic crisis.
Most ignored his warnings–some even ridiculed them.
Time proved him absolutely correct.
In May of this year, Roubini predicted four elements
would come together to create a storm for the global
economy in 2013 according to CNBC.
- stalling growth in the U.S.
- debt troubles in Europe
- a slowdown in emerging markets, particularly China
- and military conflict in Iran
The “perfect storm” scenario he forecast for the global
economy earlier this year is unfolding right now as
growth slows in the U.S., Europe as well as China.
Roubini said that unlike in 2008 when central banks had
“policy bullets” to stimulate the global economy, this
time around policymakers are “running out of rabbits to
pull out of the hat.”
This highlights the message we have been teaching for
years now for the need to protect and privatize your
assests through “Safe Money” vehicles.
Last week Dr. Roubini told CNBC that there is
“virtually zero chance” that pump-priming by central
banks will succeed, suggesting that policymakers
should instead let the economic bust work itself
through the system.
Don’t wait for things to get worst to put your own
house in order. Do it now.