The US will slip into recession within 6 months
By Nouriel Roubini
Nouriel Roubini, the noted economist who correctly predicted the 2008 financial crisis, has predicted that the US, Europe and UK are on the verge of recession and it may occur within the next two quarters.
“The question is not whether or if there is going to be a double dip, but whether it’s going to be mild or severe with another financial crisis. The answer on that depends on the euro zone”, Roubini said in a CNBC interview.
The European debt crisis could snowball into a shock much bigger than the Lehman Brothers of 2008 and the government needs to pull its socks and take concrete measures before the G20 meeting in November.