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BLOOMBERG/Nouriel Roubini...aka..."Dr.Doom"...is back predicting a possible new world downturn.
In a Singapore interview, Roubini predicted...a 1 in 3 chance... that a “perfect storm” of USA fiscal woes, China slowdown, debt restructuring in Europe and continued stagnation in Japan...could converge in 2013.
The NYU professor said “There are already elements of fragility. Everybody’s kicking the can down the road of too much public and private debt. The can is becoming heavier and heavier, and bigger on debt, and all these problems may come to a head by 2013 at the latest.”
AND: “The risk is at some point, the bond market vigilantes are going to wake up in the U.S., like they did in Europe pushing interest rates higher and crowding out the recovery. In Europe, officials need to restructure the debt of Greece, Ireland and Portugal and waiting too long may result in a “more disorderly” process, Roubini also said.
