Dr Doom warns on overheating EMs and 'double dip'

Nouriel Roubini, the man who predicted the US housing crash, says developed nations will need to cope with the dual impact of sluggish employment and highly indebted governments, Reuters reports. "Labor market conditions will remain very weak in some advanced economies," Roubini says. "Savings will have to rise faster than consumption for the coming years. That is why growth will remain anemic." Greece, Spain, Portugal and Ireland face serious competitiveness bottlenecks that could hamper their recovery, Roubini added. In emerging markets however, Roubini says many risk overheating...