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Posts Tagged ‘Nouriel Roubini’

Economists See Increased Chance Of Double-Dip Recession

Huffington Post |  Ryan McCarthy First Posted: 08-16-10 01:19 PM   |   Updated: 08-16-10 01:51 PM

Buried amidst the increasingly gloomy economic news of the last few weeks — which includes stubbornly high unemployment, rising foreclosures and a grim outlook from the Fed, among other factors — is a growing sense of doom among some prominent economists.

More than a few top economic thinkers have significantly upped the chances of a return to a recession. Today, the noted bear Nouriel Roubini, the president of RGE Monitor and a professor at New York University, delivered a grim prognostication via Twitter: “Risk of a double dip recession in advanced economies (US, Japan, Eurozone) has now risen to 40%.”

Roubini is not alone in his concern. Last week, David Rosenberg, the Gluskin Sheff economist (formerly of Merrill Lynch), whose words have become must-read barometers of bear-ishness, said that the chances of a double-dip recession in the U.S. are now “higher than 50-50.”

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