2009-11-16creditwritedowns.com

" Nouriel Roubini, writing in the New York Daily News , said on Sunday that “unemployed Americans should hunker down for more job losses” given the likelihood of a job less recovery. This was as gloomy a piece as I have seen from Roubini in the past few months. He has clearly become more downbeat about the long-term picture for the U.S. economy."



Comments:

tvsterling at 09:53 2009-11-16 said:
All the factors mentioned by Roubini in his article (link at bottom of post) are bad enough but he forgets to mention the coming debacle in commercial real estate. That alone should cinch a double dip. The point about 'fully one quarter of American jobs are offshorable' was especially ominous. If the rich can do that they will. THEY ARE NO LONGER AMERICANS. Permalink

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