SS: Nouriel Roubini (a fairly mainstream economist known for accurately warning of the Great Financial Crisis in 2006) is interviewed on Al Jazeera's "The Bottom Line". The entire interview is interesting and rather sobering. His thesis is high debt burdens, supply shocks, technologies that exacerbate inequality, domestic political turmoil, geopolitical tensions, and environmental problems are going to severely hurt the global economy, and that some of these problems feed off each other and make them worse. Young people who feel (correctly) that they are worse off than their parents will be a source of discontent.Quote from around the nine minute eleven second mark: "Things are worse than the 70s and worse than the post GFC period. In some dimensions, things are even worse than the 1930s".

It's definitely gonna be harder to maintain the mental health of the youngest generation the more of them come to realize that the actions of their priors have doomed them to worse quality of life, that's for sure...

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I have it on good authority that globalization is the devil. So, de-globalization should be awesome-sauce.

The following submission statement was provided by /u/Portalrules123:

SS: Nouriel Roubini (a fairly mainstream economist known for accurately warning of the Great Financial Crisis in 2006) is interviewed on Al Jazeera's "The Bottom Line". The entire interview is interesting and rather sobering. His thesis is high debt burdens, supply shocks, technologies that exacerbate inequality, domestic political turmoil, geopolitical tensions, and environmental problems are going to severely hurt the global economy, and that some of these problems feed off each other and make them worse. Young people who feel (correctly) that they are worse off than their parents will be a source of discontent.Quote from around the nine minute eleven second mark: "Things are worse than the 70s and worse than the post GFC period. In some dimensions, things are even worse than the 1930s".

It's definitely gonna be harder to maintain the mental health of the youngest generation the more of them come to realize that the actions of their priors have doomed them to worse quality of life, that's for sure...

Please reply to OP's comment here: https://old.reddit.com/r/Futurology/comments/11glvjh/dr_doom_world_headed_for_dark_times_in_the_next/jaozek6/

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Here's an interesting paragraph from his Wikipedia page:

>>However, financial journalist Justin Fox observed in the Harvard Business Review in 2010 that "In fact, Roubini didn’t exactly predict the crisis that began in mid-2007... Roubini spent several years predicting a very different sort of crisis — one in which foreign central banks diversifying their holdings out of Treasuries sparked a run on the dollar — only to turn in late 2006 to warning of a U.S. housing bust and a global 'hard landing'. He still didn’t give a perfectly clear or (in retrospect) accurate vision of how exactly this would play out... I’m more than a little weirded out by the status of prophet that he has been accorded since."[21][22][23] Others noted that: "The problem is that even though he was spectacularly right on this one, he went on to predict time and time again, as the markets and the economy recovered in the years following the collapse, that there would be a follow-up crisis and that more extreme crashes were inevitable. His calls, after his initial pronouncement, were consistently wrong. Indeed, if you had listened to him, and many investors did, you would have missed the longest bull market run in US market history."[24][25][26][27] Another observed: "For a prophet, he’s wrong an awful lot of the time."[28] Tony Robbins wrote: "Roubini warned of a recession in 2004 (wrongly), 2005 (wrongly), 2006 (wrongly), and 2007 (wrongly)" ... and he "predicted (wrongly) that there'd be a 'significant' stock market correction in 2013."[29] Speaking about Roubini, economist Anirvan Banerjee told The New York Times: "Even a stopped clock is right twice a day," and said: " "The average time between recessions is about five years ... So, if you forecast a recession one year and it doesn't happen, and you repeat your forecast year after year ... at some point the recession will arrive."[30][8] Economist Nariman Behravesh said: "Nouriel Roubini has been singing the doom-and-gloom story for 10 years. Eventually something was going to be right."

Nouriel Roubini he predicted 20 of the last 3 recessions.

Nouriel Roubini has predicted about 25 of the last 3 recessions. A stopped clock is right twice a day, but it's not a particularly good or usable clock.

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