-Markets should brace for a period of decline that echoes crashes of the 1970s and 2008, according to Nouriel Roubini.

-He predicted that central banks will "wimp out" from fighting inflation, fueling a financial crisis.

-"It's going to get ugly, the recession, and you'll have a financial crisis," Roubini told Bloomberg.

The global economy will experience a period of decline that combines the worst aspects of the 2008 financial crisis and the 1970s, Nouriel Roubini has warned.