Nouriel Roubini: Economic recovery "very ugly, going to feel like a recession even when it ends" [View All]

[Better Believe It]

CNBC Roubini Interview
July 21, 2009

Nouriel Roubini, the economist whose dire forecasts earned him the nickname "Doctor Doom", told CNBC Monday that the economic recovery is going to be "very ugly."

"The recovery is going to be subpar," Roubini said. "I see a one percent growth in the economy in the next few years. There will also be 11 percent unemployment next year and the recovery is going to be slow. It's going to feel like a recession even when it ends."

When asked about the economy Monday, Roubini said, "We may be out of a freefall for the financial system," said Roubini. "We have seen the worst in that sense. But in my view there is a sluggish U shaped recovery that might go into a W double dip if we don't fix the problems in the economy."

On a second stimulus: "I think there will be another one toward the end of the year. We need to have more shovel ready labor intensive infrastructure projects. We'll need it."

You can see the video of the TV interview with Roubini at:

http://www.cnbc.com/id/32012679/site/14081545

http://www.rgemonitor.com/blog/roubini/257328/recent_cnbc_roubini_interview