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On Tuesday, the IMF announced a new set of measures designed to provide short-term liquidity to ailing nations, the latest in a series of measures aimed at stemming Europe's sovereign debt crisis.

But "money alone is not going to resolve the problems" in Europe, where the "contagion is spreading" far beyond the so-called periphery, according to New York economics professor Nouriel Roubini. "The contagion has now gone viral, cross Atlantic and global."

In Europe, the problems of Greece, Italy and Portugal have now spread to Italy, Spain and beyond. "Most ominously," Roubini notes, credit spreads are widening on the sovereign debts of France and Belgian among other "core" nations. In addition, there are acute signs of stress in interbank lending such as LIBOR and the TED spread while many European banks are facing a shortage of dollars.

"It's a slow-motion train wreck," the famed economist says.

Given the financial and fundamental

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If you thought the economy was starting to pick up and perhaps was even off to the races after months of positive GDP growth and much better than expected consumer health, think again. That's according to, Nouriel Roubini, professor of economics at New York University, who says the U.S. economy is destined for another recession in 2012 on account of partisan politics in Washington.

On Monday, after the bipartisan 12-member super committee announced its failure to agree upon $1.2 trillion in cuts over the next 10 years, Roubini, also known as Dr. Doom, tweeted the following: "Super-Committee: Super-Failure, Super-Pathetic, Super-Gridlock, Super-GOP-Lunacy on Taxes, Super-Fiscal Drag in 2012 that ensures double dip."

But his prediction goes beyond the partisan bickering of the committee tasked to cut the country's budget deficits. His point rests upon the inability of ALL Republicans and Democrats in Washington to work together on any