'Dr. Doom' Economist's Dire Warnings Proved Right

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New York University economist Nouriel Roubini was viewed as a professional Cassandra when he warned of a coming housing crisis and a wave of bank foreclosures a couple of years ago. Now officials around the world are seeking his advice and listening to his economic forecasts since he's been proven right.

Roubini talks about the factors behind the country's current economic woes with Scott Simon.

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