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jazzsingerny Asked About ' The Financial Meltdown - AOL Money & Finance'

Will this downturn last 3 years or longer

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clavin.newman
clavin.newman Answered:

Nouriel Roubini, an economist with generally negative views about the US economy, has said:

This will be a long, ugly and nasty U-shaped recession lasting at least 12 months and more likely 18 months, not the mild 6 month V-shaped recession that the delusional consensus expects.  While an L-shaped decade long economic stagnation is unlikely the recovery of the economy from this recession will be weak as the financial crisis and serious macro imbalances will lead to sub-par (below trend) economic growth for years to come.

(The Worst Financial Crisis Since the Great Depression)

So even on Roubini's pessimistic view, the recession probably would not last 3 years.  However, the recovery may be weak compared to previous upturns.

"Hello, Newman." "Hello, Jerry."
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