Dr. Doom predicted financial crises like 2008; were be seeing. Will stock market going to down again!
Roubini, chairman and chief executive officer of Roubini Macro Associates
Economist Nouriel Roubini, who anticipated the financial crises like 2008 financial crisis.
“Even in a plain vanilla recession, the S&P 500 can fall by 30 per cent,” said Roubini, chairman and chief executive officer of Roubini Macro Associates, in an interview Monday. In “a real hard landing,” which he expects, it could fall 40 per cent.
Roubini, warned through bull and bear markets that global debt levels will drag down stocks, said that achieving a 2 per cent inflation rate without a hard landing is going to be “mission impossible” for the Federal Reserve.
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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.”
Read complete article: 2008 Financial Crash
The market is showing negative trends now a days, FIIS is going to selling that is the reason the long investors are also in panic.
