Economist who foresaw '08 crash warns conflict with Iran could cause global recession
Professor known as 'Dr. Doom' also predicts joblessness in US will remain high in 2012
msnbc.com news services
updated 1/28/2012
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.
Until Europe radically reforms itself and the U.S. gets serious about its own debt mountain, Roubini said, the world economy will continue to stumble along to the detriment of large chunks of the world's population who will continue to see their living standards under pressure, even if they have a job.
Meanwhile, International Monetary Fund Managing Director Christine Lagarde — speaking Saturday at the World Economic Forum meeting in Davos, Switzerland — said Europe was making progress
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Full story: http://www.msnbc.msn.com/id/46172944/ns/business-stocks_and_economy/
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