HomeLatest News & UpdatesFierce recession by year's end: Roubini's future IV News
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Fierce recession by year’s end: Roubini’s future IV News

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Economist who predicted the 2008 crisis

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Team Udayavani, Sep 24, 2022, 6:35 AM IST

London: Iran-based economist Noriel Roubini, who made a clear prediction about the global recession in 2008, has given another shock to the world.

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Roubini said that by the end of this year, the world, including the United States, will face a worse and longer financial crisis than the previous one.

He has also predicted that this recession will last the whole year of 2023.

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In the general financial crisis, the American stock market will see a decline of 30%. Noriel Roubini, head of Roubini Macro Associates, said it is likely to fall by 40 percent during the current year’s recession.

Roubini’s prediction that there will be a global recession by 2008 was 100 percent true. Hence he got the name “Doctor Doom”.

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