Those who pay attention to the world outside our borders and we really should since it impacts on us will be aware that there was recently a World Economics Forum in Darvos, Switzerland. Attending said Forum was Dr Nouriel Roubini (world famous Economist), nicknamed Dr Doom for his dire predictions prior to those predictions becoming reality around the world. Smart, smart, smart man. Nowadays, governments around the world listen to him because hes been right about so much shit hitting so many fans. I should, perhaps, mention that Dr Roubini is a Professor of Economics and International Business at NY University. Now, I cant provide you with a link to some crap media report about what he said at the forum mainly because the media are either ignoring it or pandering to whatever political agenda best suits their reporting. But . What did he say? And who the hell is gonna listen? I can answer in part the first question ... He said: The biggest coming issue is a potential conflict between the US (with Israel) and Iran. He predicts that conflict may lead to oil prices rocketing to $150 per barrel. That would, in turn, lead to another global recession. He said both the US and Europe needs to radically reform to stop its debt mountain, otherwise the world economy will not recover and both will continue to see their standard of living fall. He is very pessimistic about both the EU and US taking the steps necessary to push themselves into a strong recovery. He and the IMF say that the global economy is getting weaker and they predict only 3.0-3.3% growth in the coming year. His prediction for US growth is between 1.7-1.8%.... and predicts that unemployment will remain high. He mentioned issues with China becoming less stable because of its over reliance on foreign markets, and under-consumption (I have mentioned that one several times on the forum). He talked about how too much debt in both the public and private sectors may take up to a decade to restablize. In short, we need to clean up our balance sheet as a nation and invest in the things that will make us more productive in the future. So what did he suggest that nations do? Clean up our debt, and shift our investments from the quick profit sectors such as finance and real estate to investing in our human capital (people), our structure, technology and innovation. I think hes right. We are America a nation of innovators, entrepreneurs, and optimism. Next question . Who is listening to Dr Doom? I dont know . But I really hope that Obama . And whoever is next in line are paying close attention in class.