Alex McCurthy
“Even in a plain vanilla recession, the S&P 500 can fall by 30 per cent,” said Roubini, chairman and chief executive officer of Roubini Macro Associates, in an interview Monday. In “a real hard landing,” which he expects, it could fall 40 per cent.
As a result, Roubini sees a stagflation like in the 1970s and massive debt distress as in the global financial crisis.
“It’s not going to be a short and shallow recession, it’s going to be severe, long and ugly,” he said.
