Stock Market To Fall Another 20%-25%: Roubini
ECONOMY, JOB LOSSES, JOBS, EMPLOYMENT, MARKETS
CNBC.com | 10 Nov 2008 | 09:48 AM ET
The economy will worsen in the coming months and cause the market to fall another 20 to 25 percent in the United States and abroad, said Nouriel Roubini, a New York University business professor, on CNBC’s “Squawk Box” on Monday.
“There's going to be negative growth all the way to the end of 2009," he said. “The surprises from now are going to be on the downside, for the economy, for earnings, for the financial system." (See video of Roubini, left.)
Job losses will accelerate in the next months, Roubini said, and he expects a weak economic recovery in the short and mid-term.
“There's going to be a very slow recovery, because you have the financial system that's impaired; earnings are not going to grow very fast, and therefore the stock market will go sideways for quite a while,” he said.
More Economic News on CNBC.com: * Stock Market To Fall Another 20%-25%: Roubini
Yes, indeed the economies around the world are all decerating at a faster clip than Bush's rating...
But ALL the governments around the world are now pumping in huge amounts of liquidity as well as cutting rates...
In the short run, ALL boats will be lifted (pun intended)...
In the long run, we will ALL drown (and, yes, pun intended again)!!