Nouriel Roubini, a.k.a. "Dr. Doom," predicts double-dip odds at 40 percent
Nouriel Roubini, the famed New York University economist who predicted the financial crisis, tweeted Wednesday that our chances of another recession are increasing.
"Q3 GDP growth very likely to be below 1 percent; and likely to be closer to 0% than to a pathetically lousy 1 percent. So double dip risk is now > 40 percent," he wrote.
Roubini explained to CNBC today that he felt the government is out of policy moves to stimulate the economy. He said that GDP in the second quarter is likely to have fallen from 2.4 percent to 1.2 percent--which is slightly lower than but still in line with what other economists expect.
Listen to his full remarks here:
Ariana Eunjung Cha
August 26, 2010; 2:25 PM ET
Categories: U.S. Economy
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