The world’s advanced economies are headed for a second recession, regardless of whether there is further chaos in Europe, noted economist Nouriel Roubini told CNBC on Tuesday.

Roubini — who correctly predicted the 2008 financial crisis, but has got some other bearish calls wrong — said his reading of recent data suggested the U.S., euro zone, and the U.K. are already on the verge of falling into a recession  in the next quarter or two.

“The question is not whether or if there is going to be a double dip, but whether it’s going to be mild or severe with another financial crisis,” Roubini, head of Roubini Global Economics, told CNBC on the sidelines of the World Knowledge Forum in Seoul. “The answer on that depends on the euro zone.”

According to Roubini READ MORE

 

There’s a huge amount of anger in America, with protesters occupying Wall Street and European voters deciding on whether to support the failing peripheral states, Foreign Policy went back to its two favorite economic and political prognosticators — Nouriel Roubini and Ian Bremmer — for another spirited debate on what the coming months hold.

The news isn’t good. “There’s a huge amount of anger,” says Roubini, better known as Dr Doom for having predicted the 2007-2008 financial crisis. He sees another recession coming; the only question being “whether it’s going to be a plain-vanilla recession or one as severe as the last.”

So, can… READ MORE