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Roubini: Here Comes A Massive Fiscal Drag In 2012, And A “Perfect Storm” In 2013

By Ilene
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Nouriel Roubini

Courtesy of Joe Weisenthal of The Business Insider

Image: CNBC

Nouriel Roubini was just on CNBC.

Some notes:

  • He thinks the second half of the year could be slightly better than the first half.
  • He expects massive fiscal drag in 2012.
  • The perfect storm will be in 2013, because everyone is kicking the can down the road. Greece will kick the can to the. The US fiscal issues will be kicked until then (after the election).
  • Job creation will continue to be weak.
  • Expect a correction.

About what you’d expect: The 2013 "perfect storm" part is probably the scariest.

For more to depress you, check out the latest presentation from Jeff Gundlach >

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