There's no shortage of kicking the can down the road both in Europe and the US. In the US, we can no longer afford the war machine but nobody wants to say it. We couldn't afford it when we had the mirage of an economy and we certainly can't afford it now. In Europe, there's a lack of reality when it comes to certain countries who really can't afford to stay in the eurozone. As for China, time is not on its side. CNBC:
Known for his generally dour outlook that helped him see the financial crisis before it hit in 2008, Roubini said the US, European nations and others have become adept enough at forestalling their problems that a true crisis won't hit until 2013.
But when it does, the effects are likely to be painful.
"My prediction for the perfect storm is not this year or next year but 2013, because everybody is kicking the can down the road," he said in a live interview. "We now have a problem in the US after the election if we don't resolve our fiscal problems. China is overheating...eventually it's going to have a hard landing."
