Nouriel Roubini: Perfect Storm Coming Will Be Worse Than 2008

Highlights from Nouriel Roubini:

Nothing has been fixed. The toxic large banks have just merged together and become larger.

Without a doubling or tripling in the size of the current European bailout structure (which has not even come into existence yet) you're not going to have a crisis with Spain and Italy in the next six months, you're going to have one in the next two weeks.

The only other option is direct monetization (printing money to purchase bonds) from the European Central Bank (ECB).

The emerging markets are moving toward a hard landing. US growth is stagnant and continues to slow. Europe is a disaster. There is a coming war in the middle east.

It is a global perfect storm, and 2013 could be far worse than 2008. Interest rates are already at or below zero. QE is becoming less effective. Governments are already insolvent, hurting their ability to stimulate economies.