Beautiful Virgin Islands

Wednesday, Sep 03, 2025

'Dr. Doom' economist Nouriel Roubini says we'll have inflation for a long, long time. He blame wars, the robot revolution, and 3 other disasters that will plague the global economy.

'Dr. Doom' economist Nouriel Roubini says we'll have inflation for a long, long time. He blame wars, the robot revolution, and 3 other disasters that will plague the global economy.

Inflation is sticking around, and you can blame war, robots, and rampant disease for that, according to "Dr. Doom" economist Nouriel Roubini.

"Dr. Doom" Nouriel Roubini warned that we'll have inflation for a long, long time – and you can blame, wars, the robot revolution, and slew of other disasters that will plague the global economy.

"Inflation rose sharply throughout 2022 across both advanced economies and emerging markets. Structural trends suggest that the problem will be secular rather than transitory," the top economist said in a recent op-ed for Project Syndicate.

That comes after a difficult year for the US economy, with prices hitting a 41-year-high in 2022 and still hovering well-above the Fed's 2% target. According to Roubini, central bankers around the world are unlikely to bring down inflation without causing a severe recession, which could spell trouble for the global financial system considering that many households, banks, and governments are heavily indebted.

Central bankers can't cushion a debt crisis without slashing interest rates, which could worsen inflation. That impasse could slam the global economy with "the mother of all stagflationary debt crises," Roubini warned, a financial disaster that entails high unemployment, high inflation, and in the US, a steep stock market crash.

Roubini, who called the 2008 recession and is known for his doomsayer predictions on Wall Street, has said that sort of inflationary-debt disaster is inevitable at this point. It could also stretch on for years, he warned, pointing to five major problems in the global economy that could jack up prices and government spending, exacerbating the incoming crash.


Wars


Russia's invasion of Ukraine disrupted supply chains and has already rattled the global economy, but geopolitical conflict could spread across the world, Roubini said. He pointed to tensions between the US and other major powers, such as the Middle East, Iran, and China, and previously warned that World War III has already begun. 

Tensions are leading many powers to build up their shore of military supplies, including NATO, Europe, and the US. That burden on national budgets could exacerbate high-debt levels and inflation, prolonging the financial crisis he's warned of.


Climate change


The global economy is also waging a war against climate change, which could be expensive to resolve.

"Climate-change mitigation and adaption could cost trillions of dollars per year for decades to come, and it is silly to think that all these investments will boost growth," Roubini said, adding that nations would likely become poorer over time.

"A significant share of the existing capital stock will have to be replaced, either because it has become obsolete or because it has been destroyed by climate-driven events."


Rampant disease


The spread of COVID-19 isn't over, and neither are pandemics. Roubini predicted disease outbreaks would become rampant in the future, partly due to the effects of climate change. That could significantly rack up government debt as leaders attempt to tackle one public health crisis after the other, while also confronting the costs of welfare for an aging society.


The robot revolution


The global economy will be slammed by "globotics," as Roubini calls it, or the innovation stemming from globalization and automation. While some argue those factors are spurring economic growth, they're a major threat to blue- and white-collar workers, meaning governments could be forced to shell out huge sums of cash if robots, AI technology, and other advancements put people out of work.

The costs could be hefty, Roubini warned. He estimated that the US could lose about 20% of its GDP if the government doles out a basic income of $1000 per person a month.


Wealth inequality


Wealth gaps are sparking unrest among the young and the middle- and working-classes, Roubini said, which could be expensive for government leaders to smooth over.

"To prevent populist regimes from coming to power and pursuing reckless, unsustainable economic policies, liberal democracies will need to spend a fortune to reinforce their social safety nets – as many are already doing," he said.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
UK Fintechs Explore Buying US Banks
Greece Suspends 5% of Schools as Birth Rate Drops
Apollo to Launch $5 Billion Sports Investment Vehicle
Bolsonaro Trial Nears Close Amid US-Brazil Tension
European Banks Push for Lower Cross-Border Barriers
Poland's Offshore Wind Sector Attracts Investors
Nvidia Reveals: Two Mystery Customers Account for About 40% of Revenue
Woody Allen: "I Would Be Happy to Direct Trump Again in a Film"
Pickles are the latest craze among Generation Z in the United States.
Deadline Day Delivers Record £125m Isak Move and Donnarumma to City
Nestlé Removes CEO Laurent Freixe Following Undisclosed Relationship with Subordinate
Giuliani Seriously Injured in Accident – Trump to Award Him the Presidential Medal of Freedom
EU is getting aggressive: Four AfD Candidates Die Unexpectedly Ahead of North Rhine-Westphalia Local Elections
Lula and Putin Hold Strategic BRICS Discussions Ahead of Trump–Putin Summit
WhatsApp is rolling out a feature that looks a lot like Telegram.
Investigations Reveal Rise in ‘Sex-for-Rent’ Listings Across Canada Exploiting Vulnerable Tenants
Chinese and Indian Leaders Pursue Amity Amid Global Shifts
European Union Plans for Ukraine Deployment
ECB Warns Against Inflation Complacency
Concerns Over North Cyprus Casino Development
Shipping Companies Look Beyond Chinese Finance
Rural Exodus Fueling European Wildfires
China Hosts Major Security Meeting
Chinese Police Successfully Recover Family's Savings from Livestream Purchases
Germany Marks a Decade Since Migrant Wave with Divisions, Success Stories, and Political Shifts
Liverpool Defeat Arsenal 1–0 with Szoboszlai Free-Kick to Stay Top of Premier League
Prince Harry and King Charles to Meet in First Reunion After 20 Months
Chinese Stock Market Rally Fueled by Domestic Investors
Israeli Airstrike in Yemen Kills Houthi Prime Minister
Ukrainian Nationalist Politician Andriy Parubiy Assassinated in Lviv
Corporate America Cuts Middle Management as Bosses Take On Triple the Workload
Parents Sue OpenAI After Teen’s Death, Alleging ChatGPT Encouraged Suicide
Amazon Faces Lawsuit Over 'Buy' Label on Digital Streaming Content
Federal Reserve Independence Questioned Amid Trump’s Push to Reshape Central Bank
British Politics Faces Tumultuous Autumn After Summer of Rebellions and Rising Farage Momentum
US Appeals Court Rules Against Most Trump-Era Tariffs
UK Sought Broad Access to Apple Users’ Data, Court Filing Reveals
UK Bank Shares Dive Over Potential Tax on Sector
Germany’s Auto Industry Sheds 51,500 Jobs in First Half of 2025 Amid Deepening Crisis
Bruce Willis Relocated Due to Advanced Dementia
×