Tags: roubini | recession

Roubini Sees Light at End of Tunnel

By Ellen Chang   |   Monday, 12 Oct 2009 10:14 AM

Nouriel Roubini, aka “Dr. Doom,” said the response by the central banks and governments is helping the recession experience a “bottoming out,” Bloomberg reported.

Roubini, a New York University professor, said he believes there is a “light at the end of the tunnel,” for the global recession.

The U.S. faces a better prospect for the near term, he said.

“There are signs right now that the recession might be close to over,” said Roubini, who is well-known for predicting the financial crisis.

Even though Roubini predicts there could be a U-shaped recovery, he still sees risk of “a double-dip recession.”

In the United States, 263,000 employees were cut in September, which is larger than estimates, and the unemployment rate reached a 26-year high, according to the Labor Department.

“The recovery is going to be extremely anemic” in the United States, Roubini said.

“Growth will be below potential.”

He said the world will not recover from the recession soon and it will be “difficult, it’s going to be slow,” Roubini said.

The global recession will impact the world for many years, IMF Managing Director Dominique Strauss-Kahn told Bloomberg.

“We will be dealing with the aftermath of the crisis for years to come,” he said.

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Nouriel Roubini, aka “Dr. Doom,” said the response by the central banks and governments is helping the recession experience a “bottoming out,” Bloomberg reported.Roubini, a New York University professor, said he believes there is a “light at the end of the tunnel,” for the...
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