Roubini : perfect storm of economic disasters may smash the global economy in 2013

"There are already elements of fragility,". "Everybody's kicking the can down the road of too much public and private debt. The can is becoming heavier and heavier, and bigger on debt, and all these problems may come to a head by 2013 at the latest." Bloomberg quotes Nouriel Roubini as saying
The US economy will never ever, ever, ever, ever recover until it returns manufacturing to its shores. Manufacturing in China is not making it, no matter how cheap the price and crummy the goods.the federal government has projected large deficits for the entire duration of its budget projection. now it wants to increase its debt without any demonstrative means to repay it. eventually, creditors will wise up and refuse to lend to these reckless fools. eventually, the federal government will go broke unless it learns to live within its means. the same holds for the reckless fools in Europe.

Nouriel Roubini's perfect storm consists of four factors:

-The U.S.'s basket-case of an economy and budget deficit,
-A potential slowdown in China,
-European debt restructuring and
-the Stagnation in Japan.
The problem seems to be that no one in the entire world believes "That there is no such thing as a free meal!" When will the world and the USA governments wake up and realize that you cannot spend money that is not backed by something of value. And that the value of something is what some one else can and is willing to pay for it