Roubini's Megathreats: Crisis as the Normal Form of the System

This text provides a profound analysis of the contemporary economic system through the lens of Nouriel Roubini's theory. The author examines how decades of easy money and quantitative easing have created a gigantic debt trap, which, combined with deglobalization and the climate crisis, heralds an era of stagflation. Citing historical examples such as the Smoot-Hawley Act, the article explores the mechanisms that could lead to the collapse of global supply chains and the fragmentation of trade. A key element is an analysis of the geopolitical rivalry between great powers, known as the Thucydides Trap, and its impact on financial stability. This serves as a warning against systemic insolvency and the need to prepare for a rapid redistribution of wealth in the face of the impending domino effect.