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Dark…financial and economic clouds are, it seems, rolling in from
every direction: the eurozone, the United States, China, and elsewhere. Indeed, the global economy in 2013 could be a very difficult environment in which to find shelter.
So says Nouriel Roubini in an article posted at www.project-syndicate.org which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!) provides a link to below.
Project-syndicate.org states that “Reprinting material from this Web site without written consent from Project Syndicate is a violation of international copyright law.” so, as such, I encourage you to read the excellent article in its entirety here.
To whet your interest in doing so below are the first few words of each paragraph in the article and the concluding paragraph in full, as follows:
For starters, the eurozone crisis is…
Moreover, fiscal and sovereign-debt strains are…
Farther to the west, US economic performance is….
Moreover, political gridlock over fiscal adjustment is…
In the east, China’s growth model is…
The economic slowdown in the US, the eurozone, and China implies…
Finally, long-simmering tensions in the Middle East between Israel and the US on one side and Iran on the other on the issue of nuclear proliferation could…
These risks are already exacerbating the economic slowdown, [namely]…
Compared to 2008-2009…monetary and fiscal authorities are…
Using exchange rates to boost net exports is…
Meanwhile, the ability to backstop, ring-fence, and bail out banks and other financial institutions is…
To prevent a disorderly outcome in the eurozone, today’s fiscal austerity should be…
…[W]hile the cloud over the eurozone may be the largest to burst, it is not the only one threatening the global economy. Batten down the hatches.
*http://www.project-syndicate.org/commentary/a-global-perfect-storm
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