Renowned American economist Nouriel Roubini has written a book on the biggest threats to the U.S. economy and how to survive them.
Key Details
- MegaThreats: Ten Dangerous Trends That Imperil Our Future, And How to Survive Them describes the 10 biggest threats facing the U.S. economy and how to survive them.
- Roubini was nicknamed “Dr. Doom,” until his predictions of the 2008 Great Recession were deemed true—now he is warning of the current economic downturn.
- The point of the book is to warn others of the disastrous threats that are affecting the economy and what can be done to stop it. He says the U.S. is heading for a big calamity and it needs to be fixed fast.
Why it’s important
Roubini has studied economics for the majority of his life and has focused on the U.S. economy and how to get it where it needs to be.
Roubini warned everyone of the oncoming Great Recession in 2008 and no one listened until it was too late—now he is back warning of similar things that will affect the country as a whole and saying things need to be changed now.
The book title begins with the word MegaThreats which describes the 10 connected threats that are so severe he has deemed them as megathreats.
The book focuses on topics ranging from the debt crisis to climate change and warns of the peril that could affect the U.S. in the next 10 years.
Roubine says that in the 1970s, the U.S. faced stagflation which consisted of high rates of inflation combined with stagnant employment and growth. He continues to say if things aren’t changed fast that the U.S. is heading for a Great Stagflation that will make the 1970s look like some stable times.
