# In an op-ed, Prof. Nouriel Roubini predicts a fiscal drag for 2013

1 Faculty News November 19, 2012 ![Project Syndicate logo](/sites/default/files/styles/246w/public/assets/images/con_030500.jpg?itok=ONV7lJ6H)>

Excerpt from [Project Syndicate](http://www.project-syndicate.org/commentary/downside-risks-will-prevail-in-2013-by-nouriel-roubini) -- "As consumers, firms, and investors become more cautious and risk-averse, the equity-market rally of the second half of 2012 has crested. And, given the seriousness of the downside risks to growth in advanced and emerging economies alike, the correction could be a bellwether of worse to come for the global economy and financial markets in 2013."

[Read more](http://www.project-syndicate.org/commentary/downside-risks-will-prevail-in-2013-by-nouriel-roubini)