Nouriel Roubini looks forward into 2012 and he does not see a pretty picture of the global economy. Recession seems certain in Europe. The only question is how bad it will be. Growth in the US will be slow and much of the world depends upon exporting to Europe and the US. Eastern Europe will be hurt along with emerging markets that had been doing well. China and India are dealing with slowing growth and persistent inflation due to commodity prices.
Roubini has been called Dr. Doom for correctly predicting the financial crisis. He has lots of company this year.