[lbo-talk] Roubini

Shane Mage shmage at pipeline.com
Thu Jan 8 09:33:28 PST 2009


On Jan 8, 2009, at 11:34 AM, Doug Henwood wrote:
>>> On Jan 7, 2009, at 8:54 PM, SA wrote:
>>>
>>>> Sorry for digging this up from the archives, but I just want to
>>>> put this on record: I think Roubini is crazy if he thinks
>>>> unemployment will peak at 9%. I would be shocked if it didn't get
>>>> into double-digits.
>>>
Roubini's 9% is not crazy at all. He gives a very good reason why "the unemployment rate" (NB, *not* unemployment!) might peak at 9%: "The unemployment rate might peak at close to 9% in Q1 2010, almost two years after the recession began. However, the hiring freeze across industries that began in late 2007 will continue at least until 2010, causing discouraged workers to leave the work force and containing the extent of the spike in the unemployment rate."

Shane Mage


> This cosmos did none of gods or men make, but it
> always was and is and shall be: an everlasting fire,
> kindling in measures and going out in measures."
>
> Herakleitos of Ephesos



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