A 'perfect storm' of recession, debt, and out-of-control inflation is coming for markets this year, 'Dr. Doom' Nouriel Roubini says

March 04, 2023

A recession, debt crisis, and stagflation trifecta is going to strike the US economy this year, according to Nouriel Roubini. Roubini, known for his doomsayer predictions on Wall Street, has warned for months that another financial crisis will hit markets. Roubini, one of the first economists to call the 2008 recession, has been warning for months of a stagflationary debt crisis, which combines the worst aspects of 70s-style stagflation and the '08 debt crisis. The result would be a steep recession anyway, followed by more debt and inflation problems. "Now we're facing the perfect storm: inflation, stagflation, recession, and a potential debt crisis," Roubini warned.