Looking ahead: global recession and / or inflation...or both?

RGE - The Coming Global Economic Slowdown and Rising Inflation: Is Stagflation-Lite in the Cards?: "The Coming Global Economic Slowdown and Rising Inflation: Is Stagflation-Lite in the Cards?
Nouriel Roubini | Apr 29, 2008
Is the global economy headed towards a global recession? Or should we worry more about the rising inflationary forces in the global economy? Or will both evils emerge in a stagflationary outcome of contracting output and rising inflation? Certainly recessionary pressures are mounting in many economies; while inflationary pressures are mounting in other ones.
So let us consider in more detail the recessionary and inflationary risks in the global economy…"