Nouriel Roubini Says U.S. Economy Will Weaken in Second Half

Better Believe It

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Thu May-06-10 01:42 PM
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Nouriel Roubini Says U.S. Economy Will Weaken in Second Half

Roubini Says U.S. Economy Will Weaken in Second Half
By Caroline Salas
May 5, 2010

Nouriel Roubini, the New York University professor who forecast the U.S. recession more than a year before it began, said the world�s largest economy will weaken in the second half of the year.

Roubini, who spoke at the Bloomberg Markets Hedge Fund Summit today in New York, predicted the unemployment rate will be 9.7 percent in a year.

�The job losses are going to stay with us for a very long period of time,� he said. �Unemployment is going to remain high.�

http://www.bloomberg.com/apps/news?pid=20601087&sid=a9obcVZgSDgo&pos=3

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BootinUp

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Thu May-06-10 01:43 PM
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1. Hey, he could still be wrong. nt

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Better Believe It

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Thu May-06-10 01:49 PM
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2. That's true. Do you think he's too optimistic?

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Hannah Bell

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Thu May-06-10 01:51 PM
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3. wait, some du-er just said 2 million people got jobs in april.

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Better Believe It

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Thu May-06-10 01:52 PM
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4. Perhaps. Did they mention what country? Perhaps that was in China?

Edited on Thu May-06-10 02:50 PM by Better Believe It

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RoyGBiv

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Thu May-06-10 01:56 PM
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5. He's probably right, but I gotta say something ...

"the New York University professor who forecast the U.S. recession more than a year before it began"

I am sick to death of reading this modifier every single time this man's name is mentioned. I KNOW! Anyone who doesn't know hasn't been paying any attention at all and won't retain the information thirty seconds from now.

</rant>

The thing is, Roubini predicts a lot of things. I read his reports on a daily basis. He gets some of them right. He gets some of them wrong. This is the way with economists.

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