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Nouriel Roubini Sounds, GASP, Positive About Economy!

Posted Mar 31, 2009 10:50am EDT by Henry Blodget in Investing, Recession, Banking
Related: ^dji, ^gspc

Okay, not "positive," exactly, but certainly less negative than he's sounded over the past 18 months. 

NYU professor Nouriel Roubini, you'll recall, is known as "Dr. Doom," the most famous of the handful of economists who actually predicted the current debacle. A few days ago, after a speech in Italy, he was quoted as saying he might see some "light at the end of the tunnel."  And he repeats a similiarly non-apocalyptic outlook on TechTicker in our interview here.

To be clear: Roubini is NOT predicting an imminent recovery. He thinks that most economists are still way too bullish, that the stock market will retest its lows, and that unemployment will eventually rise over 10%. He just thinks that the quarter that is now ending, Q1, will be the worst rate of decline in the economy and that things will gradually stop deteriorating and then get better from here.

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