Posted: 17.01.2023 10:57:00

US economist predicted most serious debt crisis in ten years

In an interview with the Spanish newspaper El Mundo, American economist Nouriel Roubini said that in ten years the world would face the most serious debt crisis


It is known that earlier Nouriel Roubini predicted the global economic crisis of 2008. Now, he believes the world is approaching a tipping point that will change the lives of lenders and borrowers, both public and private.

“In a decade, we may be facing the mother of all stagflationary debt crises,” the economist said.

He also drew attention to the fact that Spain, like most European countries, has a large public and private debt. Moreover, the country is experiencing a rapid aging of the population, so it is necessary to reform pensions soon.

“Politics means sacrificing in the short term for the sake of the general well-being in the long term. It doesn’t matter if you live in a democracy or an autocracy: political economics is about kicking the problem as if it were a tin can you found on the street,” the economist said.