Roubini says global economy is 'battling for life'

The World Bank now expects the global economy in 2009 to contract for the first time since 1945. Not slow growth for the world's economy -- negative growth.

NYU Economics Professor Nouriel 'Dr. Doom' Roubini says the need for intervention is great. "It's like a patient battling for life in an emergency room," Roubini, told Bloomberg News Friday. "That's not the time to advise about the benefits of exercise and healthy diet. You have to first make sure the patient survives." Hopefully, the words will be few and fiscal stimulus committed to many, as G-20 finance ministers meet this weekend in preparation for the head-of-government G-20 meeting in three weeks.