Situation in Europe a ‘Slow Motion Train Wreck’: Roubini

By Scott Wapner

Noted market bear Nouriel Roubini has called the ongoing political turmoil in Europe a “slow motion train wreck.” Speaking to CNBC in Las Vegas on Tuesday, Roubini said he expects Greece to leave the euro zone by next year.

Roubini’s comments come after Greek voters rejected pro-bailout partiesin Sunday’s elections, raising the likelihood a new government will seek to restructure its debts and renege on the terms of its last bailout.

Alexis Tsipras, the leader of the Coalition of the Radical Left, a party which made big gains at the polls and came in second, has called the austerity measures agreed to by the previous government a “disaster.”

Coalition talks between the various parties have so far failed to come up with a unity government. Meanwhile, a leading German politician has warned Greece the country won’t receive a cent more in aid unless it fulfills all the conditions of its previous bailout.

Roubini, who warned last year that a perfect storm was coming for the global economy in 2013, said the euro zone will “eventually break up,” and expects two or three euro zone members to exit the bloc over the next few years.

“Europe will be lucky if it ends up in stagnation like Japan for the next 10 years,” he added.

While he’s worried about what’s taking place in Europe, Roubini hasn’t changed his investing strategy. He is 70 percent invested in global equities, with half of that sitting in U.S.-based indexes; the remaining 30 percent is kept in cash.

Roubini doesn’t expect U.S. equities to fall sharply this year. He said the economy would grow 2 percent for the rest of the year or “maybe less.” On Friday, the U.S. jobs report showed employers added only 115,000 jobs in April, well off from the pace earlier this year.

—CNBC’s Kate Kelly contributed to this report.

Why is Syria under attack? - Part 4

When you peek below the surface, it becomes clear that Syria is under attack due to the interests of the parties involved. ‘Syria’ is about power, money, influence and energy.

read more

Why is Syria under attack? - 3

read more

Why is Syria under attack? - Part 2

In the event of major military conflicts that risk considerable humanitarian and economic consequences, it is useful to examine the interests of all parties involved as well as the role that the media plays in reporting the events.

read more

Why is Syria under attack? - Part 1

On the surface it’s straightforward: the U.S. wants to liberate Syria from a brutal dictator who is attacking his own people with poison gas. But beneath the surface there is something very different going on.

read more

Daan de Wit (DeepJournal) interviewt Webster Tarpley op het Magneetfestival

​Het Magneetfestival gaat de diepte in met vier interviews. Daan de Wit interviewt Webster Tarpley, Albert Spits, en Mike Donkers.

read more