Nouriel Roubini: ‘We are entering the great stagflation’
Inflation, trade war, global warming… The American economist, known for his pessimism, lists in his latest book the major threats facing economies in the coming years.
He is one of the few who saw the 2008 crisis coming. Sometimes called “Doctor Doom“ because of his gloomy forecasts, Nouriel Roubini, professor of economics at New York University Stern School of Business, has published a new book, Megathreats. It lists the risks facing economies in 2023 and beyond. The first could be a financial crisis.
You are among the few who saw the 2008 crisis coming. Is today’s situation comparable?
It is difficult to say because we are facing a series of risks with different time horizons. In the short term, there are of course those linked to the war in Ukraine, to inflation as well the prospect of a financial crisis that could materialize over the next two or three years. In addition, there are “megathreats” that could materialize more or less severely in the longer term, and which do not only relate to the economy.
