Famed New York University economist Nouriel Roubini, who called the U.S. housing bust and ensuing recession well before it happened, has said the world is due for a fresh economic contraction by 2013 but in light of the European crisis, he’s upping the due date.
“I thought a few months ago that the perfect storm would be 2013,” Roubini says, according to Bloomberg. “But now, the economic weakness in the U.S., euro zone and the U.K. is front loaded. So we’re going to double dip earlier. The climax of it could be 2013, or it could be already earlier. It depends on what policy tools are available.”
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