[lbo-talk] Roubini's unemployment call now up to "well above 10 percent into next year"

[John Thornton]

Doug Henwood wrote:
>
> On Mar 10, 2009, at 1:25 PM, SA wrote:
>
>>   "We are in the 15th month of a recession," said Nouriel Roubini, a 
>> professor at New York University's Stern School of Business, told 
>> CNBC in a live interview. "Growth is going to be close to zero..."
>
> See, he's still an optimist!
>
>> [I recall some talk about his previous 9% call being not so bad.]
>
> I believe that was me, among others. A 9% unemployment rate is nasty, 
> but it's not consistent with the intense gloom associated with 
> Roubini. If he's marking it up to beyond 10%, that is closer to 
> intense gloom. But "growth close to zero" isn't; -5% or -10% is more 
> like gloom. Me, I think we're going to see -5% for the first half of 
> the year, tending towards 0% later in the year and staying there for 
> some time.

And a  ~12%  unemployment rate.

John Thornton