Roubini: "capitalism could self destruct"
by Chris in Paris, Americablog
on 8/13/2011 06:10:00 PM
If you have a spare 22 minutes it’s well worth it. Roubini believes that the chances for a double dip are above 50%.
Economists’ outlook darkens: See 30% chance of recession
By Paul Davidson and Barbara Hansen, USA TODAY
8/15/11
The 39 economists polled Aug. 3-11 put the chance of another downturn at 30% – twice as high as three months ago, according to their median estimates.
…
Yet even if the USA avoids a recession, as economists still expect, they see economic growth muddling along at about 2.5% the next year, down from 3.1% in April’s survey. The economy must grow well above 3% to significantly cut unemployment.As a result, the economists predict the jobless rate will fall painfully slowly, dipping to 8.8% in 12 months, not much below today’s 9.1%. In April, they estimated unemployment would be 8.2% by mid-2012.
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