Roubini: Risk of Double Dip Recession

Nouriel Roubini is being called an "expert" for predicting the financial crisis last year. Now, he is saying that in spite of the current bullish markets, there is a rish of a double dip into recession.

Of course there is Dr. Roubini. The current rally may well be a dead cat bounce. The crisis, is being avoided by printing of trillions of dollars which will simply never be repaid (unless the money is severely devalued, which it will be regardless).

Roubini says we may fall back into recession in late 2010 or 2011 because of "government debt, higher oil prices, lack of jobs"). He says unemployment will rise above 11%. Yes it will. Unemployed people do not spend. And house prices, already off by about 50% off their inflated peak levels, will continue to drop. Those ATMs are dry.

Roubini does say however, that emerging markets will fare better. Looks like Roubini is in full agreement with this blog in this regard.