With European economies on the brink and other emerging markets slowing down, is there any possible way things could get worse?
As if the public needed any more evidence we’re living in perilous times, Dr. Nouriel Roubini, professor of economics at New York University's Stern School of Business and co-author of “Crisis Economics: A Crash Course in the Future of Finance,”  warned that there is one single event that could push the global economy down even further.
Roubini, who was the economist that predicted the current economic crisis, spoke to an audience at the Sixth & I Synagogue in
“And you know, on the issue of if there is a strike on Iran, the point I was making in the article was, if that were to occur, oil prices would double literally overnight and we would have another global recession.”
Roubini cited other historical events that impacted a fragile global economy.
“Oil spiked sharply in ’73 after the Yom Kippur War,” Roubini explained. “It doubled in ’79 after the Iranian Revolution, it spiked again in 1990 after the Iraqi invasion of
He also explained the 2006 Israeli invasion of
“So if an air strike were to occur, and I’m not making a statement whether
Roubini, who has been giving the name “Dr. Doom” for his predictions about asset bubbles and the downturn in the current economy that for the most have come, said sanctions would have a less detrimental effect on the global economy.
“I would say no, if there were sanctions against
However, he said if