Leading the Alternative World Order

Reshaping Perspectives and Catalyzing Diplomatic Evolution

Saturday, December 2, 2023
NewsEconomist Roubini, who predicted the 2008 crisis, warned of a collapse in the United States

Economist Roubini, who predicted the 2008 crisis, warned of a collapse in the United States

Well-known American economist Nouriel Roubini, a professor at New York University, has made a dangerous forecast for the American banking system. Roubini shared his observations with Fox Business.

“The United States is heading towards a credit crisis that will drag the economy into recession,” said the expert quoted by RIA Novosti.

The reason for the coming crisis, according to Roubini, is the insecurity of the lending activities of regional banks that work with small and medium enterprises. Due to the collapse of Silicon Valley Bank, regional banks will have to complicate the lending procedure, which, according to the expert, will lead to a credit crisis.

“This crisis will dramatically increase the likelihood of a recession, of a hard landing. We face a dangerous challenge for much of the US banking system,” Roubini concluded.

The analyst stressed that “the worst is yet to come”.

In the scientific world, Roubini’s predictions are considered authoritative. Among his predictions that came true was the global economic crisis of 2008.

Earlier, Roubini announced the approach of a period of stagflation in the West and focused on economic problems in Britain and Germany.

Economist Roubini’s post, who predicted the 2008 crisis, warned of an American collapse first appeared on Trending Articles.

Read the latest foreign affairs news from around the world on The Eastern Herald.

For the latest updates and news follow The Eastern Herald on Google News, Instagram, Facebook, and Twitter. To show your support click here.


Russia Desk
Russia Desk
The Eastern Herald’s Russia Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

Public Reaction



Subscribe to our Newsletter

- Gain full access to our premium content

- Never miss a story with active notifications

- Exclusive stories right into your inbox