Anyone who took Roubini’s gloomy pronouncements too seriously would live their life in a constant state of dread and panic. Probably in a bunker somewhere, with a stash of tinned food and a lifelong subscription to Guns & Ammo magazine.
His latest book is called MegaThreats: Ten Dangerous Trends That Imperil Our Future, And How to Survive Them.
Trust me, it doesn’t make for cheery reading.
There will always be a market for somebody preaching the end of times. In the old days, the task fell to wild-eyed religious gurus. Today, it’s the job of financial gurus like Roubini.
There is certainly a lot to be worried about right now. Roubini’s book highlights “the worst debt crisis the world has ever seen”, governments pumping out too much money, climate change and superpower competition between China and the US.
If they don’t get us, ageing populations, protectionism, rising food and energy prices, future pandemics, cyber warfare and social inequality might.
Or we could get them all at the same time.
To be fair, Roubini does admit “there is a slight chance” we can avoid these 10 species-threatening MegaThreats, but only “if we come to our senses” and “act now”.
He has previously shrugged off his Dr Doom tag, saying “I’m a realist. What I do is connect the dots.”
Yet nobody can predict the future with any accuracy, as it is impossible to connect every single dot in the global economy. There are just too many.
Instead, Roubini connects the scary ones and ignores the positives.
He will be right now and again. Let’s cross our fingers and hope this time he’s overdone the doom.
It won’t be the first time.
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