“Of course, Roubini was right. The U.S. housing market began to unravel in 2007, ultimately sparking the Great Financial Crisis a year later, and the Fed wasn’t able to rescue markets. So it might make sense to pay attention to Roubini’s warnings of impending economic doom this time around, even if they can get a bit repetitive.”
USAGOLD note: Roubini says things Wall Street does not want to hear. At critical junctures though – like just before the 2008 Great Financial Crisis – he has gotten it right. As the headline indicates, he sees danger ahead – a “stagflationary crisis unlike anything we’ve ever seen.” What is not shown in the illustration above are the potentially debilitating repercussions in the stock, bond, and real estate markets – a hint of which we have already begun to experience.