Economist Who Foresaw '08 Crash Warns Conflict With Iran Could Cause Global Recession -- MSNBC
Professor known as 'Dr. Doom' also predicts joblessness in US will remain high in 2012.
DAVOS, Switzerland — Economist Nouriel Roubini, nicknamed "Dr. Doom" for his gloomy predictions in the run-up to the financial meltdown four years ago, says the fallout from that crisis could last the rest of this decade.
Roubini, widely acknowledged to have predicted the crash of 2008, sees tough times ahead for the global economy and is warning that without major policy changes things can still get much worse.
He also warned that a conflict with Iran over its controversial nuclear program could lead to a global recession.
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My Comment: Well duh .... Dr. Doom is right about a global recession if war with Iran breaks out .... the spike in oil prices will be the guarantee for such a slowdown. But economist Nouriel Roubini is also right that today's economic policies are not working, and that the unwillingness of Western governments to control their uncontrollable spending is making the situation worse.
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