Thursday, November 10, 2011

Dr Doom was right / another one bites the dust?

5 years ago Nouriel Roubini (Dr Doom) was making all kinds of dire predictions, the housing market would collapse, the world would experience massive global recession and the EU would break up. Two for three, so far. Everyone called him crazy at the time, insisting he was a permabear. Now many of those people call him a sage. On his blog he wrote a detailed analysis of why in 5 years Italy (the world's 7th largest economy) could cause the collapse of the EU.

This is one of the best explanations of the EU's current problems that I've read - and it was written 5 years ago! Basically every problem he wrote about is now front and center. For good measure he also mentions problems in Greece, Spain and Portugal.

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