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The economist who’s warning of a 40% drop in the stock market this year just took credit for predicting the riots
Roubini says riots sweeping America ‘are not just about George Floyd’s murder’
By: Shawn Langolis in MarketWatch
His critics might say “a broken clock is right twice a day,” but that isn’t stopping NYU economist Nouriel Roubini from taking a victory lap for what he’s characterizing as a prescient call, amid the riots that erupted across the U.S. over the weekend.
Roubini appears to be referencing a column that he wrote back in March in which he raised the “possibility of outright violence and civil disorder.” So, score a point for nailing a prediction for civil unrest, but, perhaps, subtract one for tying his call to foreign interference in the U.S. election.
“The COVID-19 crisis will give way to renewed conflicts between the West and at least four revisionist powers: China, Russia, Iran, and North Korea, all of which are already using asymmetric cyberwarfare to undermine the U.S. from within,” he wrote at the time. “The inevitable cyber attacks on the US election process may lead to a contested final result, with charges of ‘rigging.’”
To read this article in full in Market Watch click here.
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