Business, Economics and Jobs

Nouriel Roubini not bullish on 2013 economy


Former White House economist Nouriel Roubini listens to questions after delivering an address at the Commonwealth Business Forum in Perth on October 25, 2011. Roubini published his global economic outlook for 2013.


Tony Ashby

Tired of all this bullishness, and talk about how there's nothing to worry about anymore?

Don't worry. That's why God gave us Nouriel Roubini.

He has a new article at Project Syndicate that could pretty much be titled: Things still suck.

It's actually titled The Economic Fundamentals of 2013 and, spoiler alert, he says the fundamentals aren't good.

Roubini identifies five big risks to the global economy.

They are:

• The US still hasn't really gotten through its fiscal cliff/debt ceiling stuff.

• The Eurozone's problems won't be resolved, and things will re-ignite in the second half of the year.

• China has been forced to restimulate its economy. That will fade by the second half of this year.

• The BRIC are seeing growth decelerate.

• Geopolitical risks (Pakistan, Middle East, etc.)

He concludes:

While the chance of a perfect storm – with all of these risks materializing in their most virulent form – is low, any one of them alone would be enough to stall the global economy and tip it into recession. And while they may not all emerge in the most extreme way, each is or will be appearing in some form. As 2013 begins, the downside risks to the global economy are gathering force.

More from our partners, Business Insider:

Business Insider: This is what Samsung's hopeful iPad mini killer will look like

Business Insider: 10 awesome airport lounges that make a layover feel like a vacation

Business Insider: New bloomberg poll shows how crazy bullish investors are getting

Business Insider: The newstand app on your iPhone isn't so useless anymore

Business Insider: The Firefox phone is real and you can get one next month