This is an interesting video, Nouriel Roubini’s outlook for the economy calls for continued weakness for a few years, and a surprising 40% drop in home prices. Courtesy of Tim Iacono, at The Mess That Greenspan Made. I recommend watching the Jeremy Siegel video clip also.
Nouriel Roubini on Bloomberg
Over at Bloomberg, this video clip of Nouriel Roubini sharing his outlook on the housing market and economy appears near a clip featuring Jeremy Siegel ("Stocks for the Long Run") who sees a bottom in equity markets and thinks it’s time to load up.
Click to play in a new window
Some highlights from Nouriel:
- The recession (already underway) will last eighteen months
- The financial crisis will be with us for two or three years
- Two or three hundred banks will go bankrupt
- Home prices will fall a total of 40 percent through 2009
The summary from Bloomberg:
00:00 Outlook for financial markets, economy
02:26 "Serious weaknesses" in financial system
03:31 "Many have to be blamed" for woes; regulation
04:25 Impact of financial turmoil on economy
05:49 Timing of recovery, financial crisis outlook
06:26 Outlook for global economyRunning time 07:11
Everyone have a nice weekend…
