Nouriel Roubini: I fear the worst is yet to come

-Sunday Times, via LRC

When this man predicted a global financial crisis more than a year ago, people laughed. Not any more...

Last Thursday he predicted that hundreds of hedge funds will go bust and stock markets may soon have to shut – perhaps for as long as a week – in order to stem the panic selling now sweeping the world. On Friday, he said the world economy was “at a breaking point”. He believes the stock markets are now “essentially in free fall” and “we are reaching the point of sheer panic”.

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