Roubini warns of global recession risk. In a video interview with the Wall Street Journal, Economist Nouriel Roubini of Roubini Global Economics warns that the risk of a global recession is higher than 50%, suggests investing in cash, blames George Bush for the United States' economic predicament, advocates higher taxes, warns of a possible break-up of the European monetary union and states that "Karl Marx was right". [more inside]
Nouriel Roubini's Global Macroeconomic and Financial Policy Site is big, broad, and pretty amazing. If you can stomach a 50 page .pdf, make sure to read the dollar-bear article: Will The Bretton Woods 2 Regime Unravel Soon? The Risk of a Hard Landing in 2005-2006.