Credit Crunch is coming for the U.S. that'll Tip the Economy into Recession, 'Dr. Doom' Economist Nouriel Roubini Warns
The U.S. is heading for a credit crunch that'll tip the economy into recession, according to “Dr Doom” economist Nouriel Roubini.
The U.S. is heading for a credit crunch that'll tip the economy into recession, according to “Dr Doom” economist Nouriel Roubini. The New York University professor warned the turmoil hitting the US banking sector is only going to get worse, speaking in a recent Fox Business interview. “That credit crunch is going to make the likelihood of a recession, a hard landing, much greater than before,” he said.
Roubini — who predicted the 2008 economic slump — zeroed in on the troubles at smaller US regional lenders in the wake of Silicon Valley Bank's collapse, which face large outflows of deposits as worried customers pull their money and park it elsewhere.
Given that lack of confidence and the pressure on deposits, many believe those banks are likely to make it more difficult for consumers and businesses to secure a loan — otherwise known as a credit crunch.
Disney Begins Second, Larger Round of Layoffs, Bringing Total to 4,000 Jobs Cut
Disney (DIS) began its second, larger wave of layoffs Monday, bringing total job cuts in recent weeks to 4,000 when the latest round is completed.
Goldshore Resources Finds High-Grade Sub-Vertical Deposits and Expects Significant Value Increase
Goldshore Resources (GSHRF) is anticipating a number of forward-looking milestones that it expects will increase the company's value.
India Will Upstage China to Become Most Populous Nation by Mid-2023
India is on track to surpass China by mid-2023 as the world’s most populous nation, United Nations data said Wednesday, raising questions about whether a booming, young Indian population will fuel economic growth for years to come.
