Dr. Doom predicts double dip over 40% likely
Nouriel Roubini, or 鈥淒r. Doom鈥� as he鈥檚 also known, is a New York University professor and co-founder of Roubini Global Economics. As his nickname implies, his opinions tend to be on the gloomy side, and in this recent interview he describes 鈥渕onetary policy as impotent鈥� and estimates a GDP growth rate in this year鈥檚 second half of, well, just about zero percent.
Basically, all the gimmicks tried so far, including the job-boosting census, as well as cash for clunkers, first-time homebuyer tax credits, and so forth, have artificially bolstered earlier growth, but are destined to leave gaping holes in the economy in this year鈥檚 second half. So, as he succinctly states, 鈥渋n the short run we may end up like Japan, in a severe deflationary trap.鈥�
See the CNBC interview below which came to our attention via The Daily Bail鈥檚 post on how .
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