Tagged: IMF

Roubini: “the worst is ahead of us”

Economy guru and professor at NYU, Nouriel Roubini gave a presentation in London, and basically said the worst is yet to come. Roubini, back in 2006, accurately predicted that the US will fall into a recession. Back in February, he predicted the financial market meltdown. Some quotes from the conference:

  1. We’ve reached a situation of sheer panic
  2. hundreds of hedge funds are going to go bust
  3. We’re seeing the beginning of a run on a big chunk of the hedge funds
  4. don’t be surprised if policy makers need to close down markets for a week or two in coming days
  5. This is the worst financial crisis in the U.S., Europe and now emerging markets that we’ve seen in a long time
  6. Things will get much worse before they get better. I fear the worst is ahead of us.

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