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View Diary: We're Probably Going to Lose.  And I Don't Really Care. (89 comments)

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  •  I don't really believe Roubini on this (5+ / 0-)

    I fully expect a jobless recovery.  But we're not going to continue to hemorrhage jobs all the way through 2010.

    •  Roubini makes sense, as usual (3+ / 0-)
      Recommended by:
      Marie, bronte17, thereisnospoon

      He showed he understands the basic workings of the economy in his persistent predictions for a major recession from about 2006 onward, based on the bursting of the housing bubble. His argument now is that the global economy is being propped up by a carry trade based on the US dollar that is unsustainable - a "monster bubble" in his words that will soon burst.

      When it does, we'll see another downward lurch. It may not happen before November 2010, although given the fragility of the overall economy, and the looming expiration of many stimulus funds, it may be too close for comfort.

      There is another big hemorrhage of jobs coming, the only question is when.

      I'm not part of a redneck agenda - Green Day

      by eugene on Mon Nov 02, 2009 at 12:17:56 PM PST

      [ Parent ]

    •  I love how people rec these statements (2+ / 0-)
      Recommended by:
      Marie, fayea

      as if they know the intracacies of what leads roubini to conclude what he concludes or what leads others to disagree

    •  A jobless recovery (2+ / 0-)
      Recommended by:
      thereisnospoon, fayea

      I still don't think there is full evidence of a jobless recovery. There isn't nearly enough evidence that the economic growth we are starting to see now won't ultimately lead to lower unemployment in the 6-9 month near term.

      Unemployment numbers today reflect where the economy was earlier in the year. If the GDP grows at this rate for another 2 quarters the unemployment number should be going down at a pretty good clip in mid 2010.

      I don't buy Roubini's assessment at all.

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