Economist Nouriel Roubini is warning that the economy is about to enter a “doom loop.” He’s predicting another cycle of economic pain as the U.S. struggles with high inflation and high debt. “A severe recession is the only thing that can temper price and wage inflation, but it will make the debt crisis more severe, and that in turn will feed back into an even deeper economic downturn,” he warned. “Since liquidity support cannot prevent this systemic doom loop, everyone should be preparing for the coming stagflationary debt crisis.” Expert economist John Carney warns that the U.S. may lose crucial influence in the global market, returning to a “Cold War basis,” as the dollar’s valuation continues to decrease. In other news, several OPEC+ members are set to tighten global production by an additional 1.16 million barrels per day until the end of the year. The Fed will specifically be challenged amid the current banking crisis.

Business Insider/Jennifer Sor
Nouriel Roubini says markets should brace for a meltdown as stressors lead to a ‘doom loop’ in the economy

Nouriel Roubini has more dire words of warning for the economy.

“Dr. Doom” warned in a column this week that the US face a major financial crisis and the economy is entering what he calls a “doom loop”.

In an op-ed for Project Syndicate on Thursday, Roubini forecasted a coming cycle of economic pain, as the US struggling under both high inflation and high debt burdens. Those issues perpetuate each other, he said, warning of a recession and impending financial crisis that would only get worse the longer it dragged on.

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Fox Business/Kayla Bailey
Economics expert issues dire warning on ‘serious threat’ faced by US dollar: It’s ‘inevitable’

Since World War II, the U.S. dollar has been the world’s strongest currency – but one economic expert warns that it could soon lose its power.

During an appearance on “Fox & Friends Weekend,” Breitbart economics editor John Carney warned that the dollar’s feeble valuation could be a “serious threat” to the U.S.’s crucial influence on the world stage.

“”[It’s] not only a serious threat, I think it is inevitable. We went through three stages, as you said, after World War II. The U.S. was the biggest economy in the world. In the 1970s, global banking became basically dollar central. With the fall of the Soviet Union, the entire world, more or less, came under the domination of the U.S dollar…”

“That is now drifting away. China and Russia are starting to build an alternative block of currency,” John Carney explained Sunday.

You can read the full article, here.

CNBC/Ruxandra Iordache
OPEC+ just made the Fed’s job more complicated. Here’s what it did — and what could be next

Several OPEC+ members are set to tighten global production by an additional 1.16 million barrels per day until the end of the year, further burdening central bank efforts to curtail global inflation — but critically protecting the alliance’s broader output strategy from political pressures.

Washington has stepped in to criticize Sunday’s announcement where eight OPEC+ producers — including group leader Saudi Arabia and key allies Kuwait and the UAE — said they would remove more than a combined 1 million barrels per day from global oil markets, as part of an independent initiative unlinked to the broader OPEC+ policy.

This adds to Russia’s existing intentions to trim 500,000 barrels per day of its own production from February output levels, now until the end of the year — bringing the combined voluntary cuts of OPEC+ members in excess of 1.6 million barrels per day.

You can read the full article, here.

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