Photo: SIMAY2K via YouTube
Nouriel Roubini is known for his pessimistic views on the health of the global economy and his nickname is Doctor Doom.Bloomberg TV recently put together a short video highlighting Roubini’s most bold and sharpest quotes from the past year, which is definitely worth a watch.
Here’s one of our favourite quotes by Roubini that was featured in Bloomberg’s clip.
The official debt of China is only 17% of GDP at the central level, but when you add the banks, the state and local governments and all the other liabilities, we’re already estimating that the public debt of China is 80% of GDP, that’s why we’re going to have a hard landing in China by 2013 at the latest.
Check out the video below: