Danger, Falling Everything

Just when you thought it might be safe to go into the water, Dr. Doom is back.

If you're not familiar with the work of Nouriel Roubini, there's just a couple things you need to know. He's the NYU economics professor that called the U.S. mortgage meltdown about three years ago and was derided again and again for being a nut – but guess who's laughing now?

Well, not him, actually – he's probably lying awake nights in sheer terror because he knows too much. He's now predicting the utter collapse of U.S. banks, and says stock markets have at least another 20 per cent to drop.

Oh, and did we mention that it's beginning to look like the entire United Kingdom is about to go belly up and go to the International Monetary Fund hat in hand? And that some of the smartest currency traders out there are betting on the Sterling's utter collapse?

Makes you wonder why Wall Street hedge funders are, well, hedging their bets and preparing for the end of the world.

Oh, and just for good measure, the world's newest Nobel laureate in economics? Well, he's calling it like he sees it.

Now, why do I feel like I need a drink before noon again?