Yikes! Two More Years?

Nouriel Roubini, Cassandra-ish (but lately, right as rain more often than not!) economist, is predicting that we won't see positive economic growth til 2010. Ouch.

The U.S. recession will last two full years, with gross domestic product falling a cumulative 5%, said Nouriel Roubini, chairman of RGE Monitor. Roubini was one of the first economists to predict the recession and the credit crunch stemming from the housing bubble. For 2009, Roubini predicts GDP will fall 3.4%, with declines in every quarter of the year. The unemployment rate should peak at about 9% in early 2010, he said.

Thanks to Chris at Americablog for pointing this out. Ouch!