Nouriel Roubini: Recession Will Last At Least Two Years

The US economy is entering a two-year recession that will be longer and deeper than previously feared, said Nouriel Roubini, a well-known economist and professor at New York University.

"I believe we're going to have two years of negative economic growth," Roubini said on CNBC. "The last two recessions lasted only eight months each ... This time around this is going to be three times as long, three times as deep. This is going to be the worst recession the US has experienced since the 1980s."

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Comments

[Clem2]

MajorKong,

Very funny! I got a laugh out of you.

You're right.... depressing but the guy does seem very brilliant.

[sonoffestus]

I'm figuring that we are about 5 to 8 years from coming out of this thing. This is a FUBR era.
These guys have no clue what is going on, or what the remedy is. Anyone listen to Greedyspan this morning? He thought the banks would regulate themselves,LOL! Now they're going to fix things.

Time to get the old CCC up and running again. My Dad had a great time in the CCC. He worked outdoors ,l learned to play the Uke and sent home money each month. Funny how history repeats itself.

[nomoredead]

I watched this interview and was surprised CNBC didn't pull the plug on his mic.....

[PitBullWoman]

The "recession" will last forever if we don't change the path we're on.

[KillTheMessenger]

The man is an optimist.

:-)

[damnadamson]

I highly doubt we will be out of the woods in two years ... the greed we've seen is unprecedented and more than 8 years in the making. we will likely never see the same standard of living, but maybe we need to simplify in order for all of us to survive. i'm growing my own food, as much as i can at least, and cutting back on everything.

[Archivist1000]

So BUSH leaves this MESS for the rest of us to deal with ... what a failure he is ...........

It's up to the people now ... let's NOT make the same mistake again ....

I had a sad moment for Hillary the other day when she said (paraphrasing) that nobody should 'assume' anything .... a lesson she learned the hard way, to be sure!

Hillary understands that while a candidate can be the frontrunner for a long time, at the end of the day, all that really counts, is the VOTE .... it would be a shame if Obama supporters took victory for granted, and stayed home on November 4.

GO VOTE EARLY if you can .... but VOTE ! Take NOTHING for granted, it aint over 'till it's OVER ....

GO VOTE EARLY if you can ... you or someone you love might get sick on Nov 3 or 4 and you might be unable to go!

GO VOTE EARLY if you can .... there may be problems at the precincts .... don't be caught out !


GO VOTE EARLY if you can ... Obama has been working his butt off for 2 yrs, just for this one DAY .... don't let him down, when he needs YOU

GO VOTE EARLY if you can .... elections are won one vote at a time, and the result lasts 4 yrs!

[MajorKong]

I can always count on Nouriel Roubini to brighten my day.

(Runs to liquor cabinet. Starts drinking heavily)

[FemWorkingClass]

save some for me or I'll never get to sleep tonight