Roubini: no bottom until late 2009, slow recovery

Any talk of recovery strikes me as much too optimistic as well. If anything the market is moving sideways, without any real long term direction. Even with the recent runup in the stock market it’s treacherous territory that is a traders market. Individuals hoping to cash in while prices are cheap could easily lose badly unless they have extensive knowledge and time to move in and out quickly. Business doesn’t necessarily look any worse, in my view, but it’s certainly not eager to spend either. Too many excesses from the bubble years still need to be worked out. Reuters:

Roubini, who is widely credited for predicting the current economic turmoil, was speaking at the Seoul Digital Forum.

“A more sober analysis suggests we’re closer to the bottom; there is light at the end of the tunnel, but it’s going to take a while longer, and the recovery is going to be weaker than otherwise expected.”

Once the recession ends, “U.S. economic growth is going to be below potential for at least two years,” he said, amid multiple imbalances in the housing sector and the financial system, and the rise of public debt.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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