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Saturday, May 16, 2009

Roubini on CNBC: "Yellow weeds"

by Calculated Risk on 5/16/2009 12:35:00 AM

From CNBC: Economic Recovery Still Months Away: Roubini, Rogoff

"People talk about a bottom of the recession in June, but I see it more like six to nine months from now," Roubini said. "The green shoots everyone talks about are more like yellow weeds to me."
"I see slow growth for the next couple of years," Roubini said, "even if there is a recovery. Large budget deficits will push out growth."
"I think there will be a bounce in the second half of the year from the massive stimulus package," [Kenneth Rogoff, professor at Harvard University's Department of Economics] said. "But I think the longer run trend is very slow, so we're vulnerable to dipping down again sometime in the next couple of years, like Japan."