Economist Roubini: Why Stocks Poised for 50% Wipeout

The stock market is off to its worst start to a year since 1962, with the S&P 500 dropping 21% in the first half of 2022.

Meanwhile, many experts are warning that a recession is likely within the next two years, after the economy shrank an annualized 1.6% in the first quarter.

And renowned economist Nouriel Roubini, one of those who called the financial crisis of 2008, says we ain’t seen nothing yet.

“The next crisis will not be like its predecessors,” he wrote on Project Syndicate.

“In the 1970s, we had stagflation, but no massive debt crises, because debt levels were low. After 2008, we had a debt crisis, followed by low inflation or deflation, because the credit crunch had generated a negative demand shock.”

Source: https://www.thestreet.com/investing/roubini-stagflationary-debt-crisis-economy?puc=yahoo&cm_ven=YAHOO&yptr=yahoo