Economist Nouriel Roubini, who’s been dubbed ‘Dr. Doom’ for his gloomy-yet-correct prediction of the 2008 market meltdown, is making headlines once more throughout a sequence of interviews selling his new e book “Megathreats”.

“We now have to fret about all the things on the similar time, as all these megathreats are interconnected…”

When requested if we’re “there once more” in reference to the 2008 nice monetary disaster, Roubini replied: “Sure, we’re right here once more.”

“However along with the financial, financial, and monetary dangers – and there are new ones – now we’re going in the direction of stagflation like we’ve by no means seen for the reason that Seventies.”

Personal and public debt ranges globally have exploded from 200 % of GDP in 2000 to round 350 % of GDP immediately, he stated, blaming ultra-loose central financial institution insurance policies that made borrowing low cost and inspired households, companies, and international locations to tackle ever larger debt hundreds although many have been barely solvent.

However now, going through persistently excessive inflation, central banks led by the Fed have launched into aggressive charge mountaineering cycles, with Roubini predicting that extremely indebted and operationally fragile “zombie” establishments are going to go bankrupt.

“That’s why we’re not solely going to have inflation and stagflation however we’ll have a stagflationary debt disaster,” Roubini predicted.