Nouriel Roubini, speaking September 7, is reported as predicting we face years of world economic 'gloom' irrespective of what is decided by political leaders in the Eurozone. Roubini said this would be driven by a 'painful process of deleveraging, and up to a decade of low economic growth. The latter is said to be supported by an OECD report released September 6 that said the G7 economies would grow at an annualized rate of 0.3% in Q3 2012 - and that there now exists worldwide "dampening global confidence, weakening trade and employment and slowing economic growth".
If you participate in the financial markets (either directly or indirectly through money managers or pension funds) I strongly suggest you read this short article and think very hard about what you read.
Topical Reference: Roubini sees 'perfect storm ' of risks for global economy, from The Financial Post, from The Associated Press, Dan Perry, September 7, 2012 - reading time 2 minutes, thinking time much longer.
