ROUBINI: Markets Will Be Shocked By How Much of A Slowdown Is Coming This Year, And Stocks Will Dive

Roubini was interviewed by CNBC's Ross Westgate in Italy today, and Roubini had a lot of negative things to say a bunch of stuff.

Some key bullets:

• Italy is signaling the start of a political storm. It's a protest against austerity.
• Not just Italy. People are protesting austerity everywhere.
• US growth is crap, and people are going to be surprised by how slow the U.S. growth is this year.
• Total growth will be 1.5 percent (at best) this year.
• The U.S. market will then correct in the second half of the year.
• The U.S. has stolen growth from the future by being too aggressive fiscally, and now we must have austerity.

Here are two Roubini videos.

The first is on Italy. The second is on the U.S.