Most US Banks Are Near Insolvency, Claims Economist Roubini

April 3, 2023

Famous Economist Nouriel Roubini in a recent opinion piece made some alarming claims regarding US banks.

Roubini, also known as “Dr.Doom,” claimed that US banks had nearly $620 billion in unrealized losses on securities by the end of 2022.

Roubini wrote judging by the quality of their capital, most U.S. banks are technically near insolvency and hundreds are already insolvent.

Roubini said that banking stress will create a harder landing for the U.S. economy and this “house of card” will collapse.

Central banks face not just a dilemma but a trilemma, Dr. Doom wrote.

The famous US economist was among the few who correctly predicted the 2007-08 financial crisis that shook the world.

Roubini further warned that everyone should be preparing for the coming stagflationary debt crisis.