'Dr. Doom' economist Nouriel Roubini warns Biden's presidency will suffer civil unrest and cyberattacks

'Dr. Doom' economist Nouriel Roubini warns Biden's presidency will suffer civil unrest and cyberattacks by Russia and China during his term


Shalini Nagarajan Jan. 18, 2021, 01:09 PM




Tom Williams/CQ Roll Call/GettyImages

Economist Nouriel Roubini expects Joe Biden's presidency to face civil unrest and cyberattacks.
Russia and China will launch cyberattacks against the US and spread false information, he said.
He's worried Donald Trump could execute military action in Iran, making things difficult for Biden.

Joe Biden's presidency can expect to go through civil unrest and cyberattacks, "Dr. Doom" economist Nouriel Roubini told German magazine Der Spiegel on Friday.

Biden's term will face more armed uprisings, especially from white nationalists, mainly to provoke the left-wing, the economist said in an interview with Tim Bartz.

According to Roubini, who is famous for his pessimism, Russia and China will launch cyberattacks against the US and circulate false information.

"That will shape the next four years," he said, according to a transcript translated from German. 

But in the short-term, the American economist is more worried that President Trump could strike an attack on Iran's key nuclear site in Natanz - the only uranium enrichment plant in the country that's allowed to operate under the nuclear deal.

Read More: Bank of America says the warning signs that stocks are hurtling into bubble territory are growing - and pinpoints 6 that could signal a bear market is beginning

Trump's administration has engaged in aggressive foreign policy against Iran throughout his term and imposed a number of sanctions on a number of Iranian targets.

Biden, who will succeed Trump on Wednesday, has declared to return to the 2015 nuclear pact as long as Iran resumes strict compliance with it, according to Reuters.

Trump could execute military action against Iran's key nuclear site to present himself as powerful to his supporters and make life more difficult for Biden, according to Roubini.

The economist also called for tighter regulation on Big Tech platforms, such as Facebook and Twitter, because of their power. Since antitrust rules are devised for traditional monopolies, separate rules should govern social-media companies that have distinct structures, he said.

Source