Is Dr. Doom's predictions about the global economy and societies overblown?

[Hardkill]

Nouriel Roubini. who's moniker is Dr. Doom, was one of the very few economists out there who accurately predicted the 2008 financial during the early 2000s.

Now, he's predicting that the US and the rest of the global economy will in the next year or two enter into a financial crisis worse than the one that occurred during the 70s and early 80s.

He actually predicts that this financial crisis we will be going through will be what he calls a stagflationary debt crisis, which he says is something that the entire world has never experienced before.

Furthermore, he talked about how there have already been so many other negative things that have been going on this world within recent years including major backlash against free-markets and laissez faire policies, major backlash against trade and deglobalization, massive increase in wealth and income inequality, rise of extreme left and right wing populism in many countries, authoritarian regimes becoming increasingly popular, the war in Ukraine, climate change crisis, rise in deaths of despair all over the world, COVID still not being over, etc. Then, he said that all of things in addition to this upcoming stagflationary debt crisis will ultimately lead to such severe socio-political consequences throughout the whole world to the point that many countries across the globe including the US, many nations in Europe, China, India, Russia and what have you will each be on the brink of a civil war, violent insurrections and revolutions, secession, world war, and possibly worse.

https://www.youtube.com/watch?v=1RYGWwn88wQ

Is the end of the world really nigh or are these predictions way too over the top and he's just doing a lot of fearmongering?

Edited October 21, 2022 by Hardkill

[Thought Art]

It’s hard to say. Pessimism often sounds smart. You should see what people were writing directly after the show 2008 financial crisis as well.