Economist Nouriel Roubini has as dark a vision of the economy as any man with an IQ over 140.
His latest prediction is that China will fall apart. Not much of a prediction given that the rest of the world is in a recession worse than the one in 1974.
According to his newsletter, RGE Monitor, "For the last few years the global economy has been running on two engines, the U.S. on the consumption side and China on the production side, both lifting the entire global economy."
"More worrisome there are now increasing signs that the other main engine of the global economy – China – is also stalling."
His comments are a statement of what has been obvious to most people for a long time.
But, it is nice to have verification.
Douglas A. McIntyre