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July 09, 2012 at 08:11 AM
Hold on, here it comes. Perma-bear economist Nouriel Roubini, nicknamed “Dr. Doom” for obvious reasons, tweeted Monday that the ‘perfect storm’ he predicted earlier this year—that of a simultaneous slowdown in the U.S., Europe and China—is now occurring.
As CNBC notes, Roubini predicted in May that four elements—stalling growth in the U.S., debt troubles in Europe, a slowdown in emerging markets, particularly China, and military conflict in Iran—would come together in to create a storm for the global economy in 2013.
“(The) 2013 perfect storm scenario I wrote on months ago is unfolding,” Roubini said on Twitter.
The network reports, “Chinese inflation data released on Monday, suggested that the economy is cooling faster than expected, while employment data out of the U.S. on Friday indicated that jobs growth was tepid for a fourth straight month in June.”
