Roubini Sees Crisis Worsening, Hurting Emerging MarketsSubmitted by john2k on Thu, 11/13/2008 - 09:21
I believe this is from approx 2-3 weeks ago. Roubini's speech is around 1 hour. Roubini is supposedly one of the most, if not THE most accurate economists out there today. Watch the video if you're interested in what he has to say.
He doesn't really have good news for the future. Actually, no good news at all except for saying that our recession will be more like Japan's stagnation since the 1990s and not so much like the Great Depression. Oh, and he also mentioned that the recession will last at least 18 to 24 months, more likely to be 24 months (from what he said).
As to the light at the end of the tunnel, he literally said that the light at the end of the tunnel is a train headed our way and that the results will not be good at all.
He did mention something about the end of the American empire.
Well, it was long and he said a lot of things so I'll leave it at that. Don't watch this unless you're okay with listening to nothing but an hour or more of bad news.
(Try this link if the one at the beginning of my message doesn't work for you: http://media2.bloomberg.com/cache/vcYqArJFMJgA.asf )