Posted on 03/04/2009 7:09:23 AM PST by scooby321
Buffett and much of the rest of humanity are just now coming around to Nouriel Robuini's way of thinking, the economist known as "Dr. Doom" is upping the ante on his longstanding bearish views. A year ago Roubini was forecasting an 18-month recession with a U-shaped recovery; now, he's now expecting the downturn to last at least 24 months and possibly 36-months. He also sees rising risks of a Japanese-style L-shaped stagnation, i.e. a prolonged period with little or no economic growth. "I was one of most bearish people [but] the economy has surprised the bears on the downside," says Roubini of NYU's Stern School and RGE Monitor. "What's happening in the world now is scary." Indeed, while the U.S. economy contracted 6.2% in the fourth-quarter, Roubini's main concern is economic activity in much of the rest of the world is in much worse shape. And while he is often critical of U.S. policymakers - including over the stimulus package, Fed policy and bank bailouts - Roubini says "the rest of the world is way behind the curve," in terms of doing the "right things" to confront the worst economic crisis since the 1930s.
(Excerpt) Read more at finance.yahoo.com ...
This was posted already
That's what I see ahead, so investing in the hope of a "V-" or even a "U-" shaped recession is just throwing your money into the furnace.
For the Posting Police, please let up. Not all of us monitor this site 7/24. This is the first time I have seen this and I am not alone.
Roubini’s an idiot. If he happens to be right, it’s the stopped clock rule. Roubini’s been trying to convince everyone that the economy is ALREADY worse than the Great Depression
Double posting Marxists?
He’s too optimistic. My prediction...10 years until we see any real economic growth.
He has been pretty accurate over the last couple of years.
Really? He has? He claims that unemployment is higher today than it was in 1933, when it was TWENTY-SEVEN PERCENT.
Our official unemployment numbers nowadays mask those who have simply given up looking for work.
But beyond that, he has been accurate about the overall trends. He was laughed at when he said losses would exceed one trillion. Now he and everyone else are looking at even worse than that.
I do not know how the group who runs our investments at our clinic has done it but we are up .2%. Have not lost a dime. Just have not made much either. But I am happy.
Damn Commies! (ahem)
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