Oph Topik: Roubini Expects QE3

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Of course, he asserts, "it will be too little too late." He also points out that the UK and US are close to recession territory and that the downgrade by the S&P was valid.

Now remember, if you feel the need to panic, take Mish's advice:

Please remember the first rule of panic: If you are going to panic, do so before everyone else does.

Keep in mind, Roubini was one of the few who predicted the disaster with the housing crisis.