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Tuesday, 9 June 2009

Roubini Scoffs at Green Shoots, Sees Dangerous Complacency

From The Business Insider, June 8, 2009:

Roubini spoke at some conference somewhere. He's still singing the same song he was a month ago:

* Those aren't "green shoots"--they're yellow weeds
* The crisis isn't over, and everyone has become way too complacent
* We'll be in recession for another 6-9 months
* The recovery after that will be weak
* Big risk of a double-dip
* Households aren't deleveraging
* Oil could go to $200 just as economy starts to recover
* Real interest rates could spike, killing housing, etc.
* Concern about hyper-inflation
* All this could lead to "perfect storm" that will clip wings of economic and financial recovery
* So we need to stay focused on averting disaster before we redesign regulatory architecture.

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