Economist Nouriel Roubini says there's fresh evidence that at least a dozen major economies and some emerging markets are at risk of a recessionary hard landing. The list includes:
Nice touch on Estonia and Latvia. I bet they wind up tipping the balance. From his blog:
While we will not experience a global recession we will get close to one as the US will have a severe recession, Japan is entering one, a third of Europe will go into a recession, the rest of Europe will have a severe growth slowdown, the rest of the G-10 advanced countries is sharply slowing down and a few emerging market economies are entering a recession.
Let us point out Roubini is obviously just one guy - other economists are far less gloomy. But he's been getting lots of attention on CNBC and other outlets – perhaps because he is so damn sure of himself.