Economist Nouriel Roubini has been so dead-on when predicting crisis in the U.S., he has come to be known as Dr. Doom. The Professor of economics at Leonard N. Stern School New York University famously predicted the 2007-2008 financial crisis. Now he is redirecting a scary demise for New York City.
He predicts NYC will be destroyed by nukes, storms in the next 20 years. He also says that “World War III has already effectively begun.”
Roubini, author of the 2022 book “MegaThreats: Ten Dangerous Trends That Imperil Our Future, And How to Survive Them,” told Der Spiegel that there are several indicators of an impending war–he believes Iran and Israel are on a collision course, experts are concerned that NATO will get involved into the Ukraine war, and President Joe Biden declared that the U.S. would protect Taiwan from attacks by China, Fortune reported.
“Honestly, World War III has already effectively begun, certainly in Ukraine and cyberspace,” Roubini noted.
Roubini also doesn’t have hope for the future of NYC. In fact, he announced he is seriously thinking about moving out of the Big Apple–because the city is doomed and in danger of being nuked.
“There’s a scenario in which, in the next twelve months, Russia uses tactical nuclear weapons against Ukraine, and then they attack NATO, and we start a conventional war with Russia. The first nuclear weapon is gonna go to New York,” said the 64-year-old Roubini, who is also the CEO of Roubini Macro Associates, a global macroeconomic consultancy firm in New York. “Being in New York City is not safe.”
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On top of this, he said, there’s the possibility of a natural disaster, like Hurricane Sandy that flooded New York in 2012, but “much, much worse,” Roubini told The New York Post. ”In the next 20 years, most of downtown New York is gonna be underwater.”
There’s also doom coming in the financial sector–a stagflation is coming before the end of 2022, and will be “long and ugly,” he said.
According to Investopedia, “Stagflation is characterized by slow economic growth and relatively high unemployment – or economic stagnation – which is at the same time accompanied by rising prices.”
Nouriel Roubini, Professor of economics at Leonard N. Stern School NYU, adjusts his glasses at the World Economic Forum, Jan. 26, 2011. (AP/Virginia Mayo) / New York’s Times Square, Sept. 14, 2022. (AP/Mary Altaffer)