Saudi Press

Saudi Arabia and the world
Tuesday, Mar 10, 2026

'Dr. Doom' economist Nouriel Roubini says we'll have inflation for a long, long time. He blame wars, the robot revolution, and 3 other disasters that will plague the global economy.

'Dr. Doom' economist Nouriel Roubini says we'll have inflation for a long, long time. He blame wars, the robot revolution, and 3 other disasters that will plague the global economy.

Inflation is sticking around, and you can blame war, robots, and rampant disease for that, according to "Dr. Doom" economist Nouriel Roubini.

"Dr. Doom" Nouriel Roubini warned that we'll have inflation for a long, long time – and you can blame, wars, the robot revolution, and slew of other disasters that will plague the global economy.

"Inflation rose sharply throughout 2022 across both advanced economies and emerging markets. Structural trends suggest that the problem will be secular rather than transitory," the top economist said in a recent op-ed for Project Syndicate.

That comes after a difficult year for the US economy, with prices hitting a 41-year-high in 2022 and still hovering well-above the Fed's 2% target. According to Roubini, central bankers around the world are unlikely to bring down inflation without causing a severe recession, which could spell trouble for the global financial system considering that many households, banks, and governments are heavily indebted.

Central bankers can't cushion a debt crisis without slashing interest rates, which could worsen inflation. That impasse could slam the global economy with "the mother of all stagflationary debt crises," Roubini warned, a financial disaster that entails high unemployment, high inflation, and in the US, a steep stock market crash.

Roubini, who called the 2008 recession and is known for his doomsayer predictions on Wall Street, has said that sort of inflationary-debt disaster is inevitable at this point. It could also stretch on for years, he warned, pointing to five major problems in the global economy that could jack up prices and government spending, exacerbating the incoming crash.


Wars


Russia's invasion of Ukraine disrupted supply chains and has already rattled the global economy, but geopolitical conflict could spread across the world, Roubini said. He pointed to tensions between the US and other major powers, such as the Middle East, Iran, and China, and previously warned that World War III has already begun. 

Tensions are leading many powers to build up their shore of military supplies, including NATO, Europe, and the US. That burden on national budgets could exacerbate high-debt levels and inflation, prolonging the financial crisis he's warned of.


Climate change


The global economy is also waging a war against climate change, which could be expensive to resolve.

"Climate-change mitigation and adaption could cost trillions of dollars per year for decades to come, and it is silly to think that all these investments will boost growth," Roubini said, adding that nations would likely become poorer over time.

"A significant share of the existing capital stock will have to be replaced, either because it has become obsolete or because it has been destroyed by climate-driven events."


Rampant disease


The spread of COVID-19 isn't over, and neither are pandemics. Roubini predicted disease outbreaks would become rampant in the future, partly due to the effects of climate change. That could significantly rack up government debt as leaders attempt to tackle one public health crisis after the other, while also confronting the costs of welfare for an aging society.


The robot revolution


The global economy will be slammed by "globotics," as Roubini calls it, or the innovation stemming from globalization and automation. While some argue those factors are spurring economic growth, they're a major threat to blue- and white-collar workers, meaning governments could be forced to shell out huge sums of cash if robots, AI technology, and other advancements put people out of work.

The costs could be hefty, Roubini warned. He estimated that the US could lose about 20% of its GDP if the government doles out a basic income of $1000 per person a month.


Wealth inequality


Wealth gaps are sparking unrest among the young and the middle- and working-classes, Roubini said, which could be expensive for government leaders to smooth over.

"To prevent populist regimes from coming to power and pursuing reckless, unsustainable economic policies, liberal democracies will need to spend a fortune to reinforce their social safety nets – as many are already doing," he said.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Oil Prices Retreat From Peak as G7 Weighs Release of Strategic Reserves
Pentagon Identifies U.S. Soldier Who Died After Iranian Strike on Saudi Air Base
Why Saudi Arabia’s $50 Billion ‘The Line’ Megacity Slowed — and How Artificial Intelligence Is Reshaping the Plan
United States Withdraws Diplomatic Staff from Saudi Arabia and Southeast Turkey as Regional Conflict Escalates
Fanatics Moves Tom Brady Flag Football Showcase from Saudi Arabia to Los Angeles Amid Regional War
Saudi Arabia Seeks Strategic Support from Pakistan After Iranian Missile and Drone Attacks
Saudi Arabia Begins Oil Output Cuts as Hormuz Disruption Forces Storage Limits
Saudi Arabia Travel Advisory Tightened as Middle East War Triggers Regional Security Alerts
Saudi Arabia Warns Iran It Will Be ‘Biggest Loser’ as Drone Strikes Spread Across Gulf States
Lindsey Graham Urges Saudi Arabia to Join US Effort Against Iran as War Expands
Saudi Crown Prince Holds Strategic Calls With Spanish and Ukrainian Leaders Amid Regional Tensions
Kuwait’s Jazeera Airways Shifts Operations to Saudi Arabia Amid Regional Airspace Disruptions
Saudi Arabian Grand Prix: Why Jeddah’s Night Race Has Become One of Formula One’s Most Distinctive Events
F1 Leadership Addresses Bahrain and Saudi Arabia Races as Middle East Conflict Raises Safety Concerns
Zelenskyy Offers Saudi Crown Prince Assistance to Counter Iranian Drone Threat
Seventh U.S. Service Member Dies from Injuries After Iranian Strike in Saudi Arabia
Civilian Infrastructure Increasingly Hit as Iran Conflict Expands and Saudi Arabia Reports First Fatalities
Saudi Arabia Warns Iran to Halt Attacks and Signals Potential Retaliation
US Embassy in Riyadh Issues Security Alert Urging Americans to Shelter in Place Amid Regional Attacks
Projectile Strike on Saudi Residential Building Kills Two as Regional Conflict Expands
Saudi Arabia Warns Iran While Expanding Diplomatic Efforts to Contain Widening Middle East War
Iran’s President Rejects U.S. Surrender Demand as Drone and Missile Strikes Hit Gulf States
Saudi Arabia Intercepts Drone Swarm Targeting Strategic Shaybah Oil Field
Pakistan Faces Growing Pressure to Balance Ties With Iran and Saudi Arabia as Regional War Intensifies
Middle East Conflict Tests Mohammed bin Salman’s Vision to Transform Saudi Arabia Into a Global Hub
Proposed U.S.–Saudi Nuclear Deal Could Ease Traditional Nonproliferation Requirements
Iran Claims Strike on U.S.-Linked Oil Tanker Near Saudi Waters as Maritime Tensions Escalate
Saudi Arabia Says Air Defences Destroyed 23 Drones and Three Missiles Amid Escalating Regional Conflict
Saudi Arabia Warns Iran Against ‘Miscalculation’ After Missile and Drone Attacks Across Gulf
Iranian Missiles Intercepted Across Gulf as Air Defences Activate in Saudi Arabia, Qatar, UAE and Bahrain
U.S. Justice Department Pursues Criminal Cases Against Cuban Officials in New Legal Push
Abrupt Cancellation of U.S. Army Exercise Sparks Speculation Over Possible Middle East Deployment
Saudi Arabia Led OPEC Output Surge Ahead of Iran Strikes, Survey Finds
Cristiano Ronaldo Travels to Spain for Hamstring Treatment After Injury in Saudi Pro League Match
Saudi Aramco Reroutes Oil to Red Sea as Strait of Hormuz Disruptions Hit Gulf Exports
Saudi Arabia Presses Ahead With Economic Diversification Despite Fiscal and External Deficits
Middle East Conflict Puts Bahrain and Saudi Arabian Formula One Races at Risk
Iran Targets Israeli Diplomatic Site in Bahrain and US Air Base in Qatar as Regional Conflict Expands
Saudi Arabia Intercepts Three Ballistic Missiles Targeting Prince Sultan Air Base
Iran Launches Fresh Missile and Drone Attacks Across Middle East as Regional War Intensifies
Saudi Arabia Opens Direct Communication Channel With Iran in Bid to Prevent Wider Regional War
Saudi Arabia Maintains Strong Fiscal Position Despite Global Uncertainty, Finance Ministry Says
Saudi Arabia Considers Response After Iranian Drone Strike Hits Major Northern Oil Refinery
Saudi Carrier Flynas Plans Limited Flight Resumption to Dubai Amid Regional Tensions
Saudi Arabia and UAE Pledge Close Coordination to Secure Oil Supplies for Japan
Middle East Conflict Casts Doubt Over Bahrain and Saudi Arabian Formula One Races
Iran Rejects Claims of Attacks on Türkiye, Azerbaijan, Saudi Arabia and Oman
Saudi Arabia Condemns Iranian Strikes Targeting Türkiye and Azerbaijan
Saudi Pro League Orders Clubs to Continue Matches Despite Escalating Regional Conflict
U.S. Embassy in Riyadh Issues Emergency Security Alert After Drone Strike and Escalating Regional Threats
×