Nouriel Roubini says predictions for a mild recession are 'delusional' as severe financial crisis looms

September 10, 2022

© REUTERS/Mike Segar Nouriel Roubini REUTERS/Mike SegarHopes for a mild recession are "delusional," said Nouriel Roubini, the economist who called the 2008 financial crisis. It runs contrary to what Wall Street banks like Goldman Sachs have been saying about the economy. And Nouriel Roubini dismissed hopes that an incoming recession will be shallow. The famed economist, who called the 2008 financial crash, told Bloomberg that the economy is headed for a severe recession as well as a severe debt and financial crisis. In contrast, the stagflation seen during the 1970s was accompanied by low debt ratios, and the debt crisis during the 2008 financial crash saw falling inflation.