We’re Not Even Close to a Robust Recovery
Here are five reasons why.
A significant equity-price correction could, in fact, be the force that in 2013 tips the US economy into outright contraction. And if the U.S. (still the world’s largest economy) starts to sneeze again, the rest of the world—its immunity already weakened by Europe’s malaise and emerging countries’ slowdown—will catch pneumonia.
Nouriel Roubini is chairman of Roubini Global Economics and professor of economics at New York University's Stern School of Business.