Skip to main content

Nouriel Roubini Still Gloomy

  • Author:
  • Updated:

Our favorite gloom-and-doomer, Nouriel Roubini, found some time between partying in St. Barth's and pumping iron to let the world know that by the second half of the year, things might get really ugly.

"If I'm correct, by the second half of the year there's going to be a slowdown of growth in the US, Europe and Japan. That could be the beginning of a market correction because the macroeconomic news is going to surprise on the downside."

Speaking at a conference in Hong Kong, Da Roub said that the global stock rally in stocks may end amid a muted recovery in the world's largest economies and as deflationary pressures limit gains in corporate earnings. "Even the earnings news is going to surprise on the downside."
But hey, don't get mad at him, he's just the bearer of bad news. Blame all that on the Chinese, because "they unleashed a bit of a monster," he said in a CNBC interview this morning. "They have to constrain it," he said, explaining that some of the stimulus measures used by China were excessive, showing the beginnings of an overheated economy.