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Roubini says U.S. recession could last up to 36 months
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09:57, March 10, 2009

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Nouriel Roubini, a professor at New York University who predicted the current financial crisis, said Monday that the U.S. recession could drag on for years without drastic action.

In an interview with CNBC, the professor said he saw "no hope for the recession ending in 2009 and will more than likely last into 2010."

"We are in the 15th month of a recession," said Roubini, who is also known as "Dr. Doom." "Growth is going to be close to zero and unemployment rate well above 10 percent into next year."

Roubini predicted credit crisis in 2005, saying U.S. home prices were riding a speculative wave that would sink the economy.

The Obama Administration's 800-billion-dollar stimulus package is not enough to save the economy, Roubini said. While there will be a light at the end of the tunnel, it'll probably get worse before it gets better, he said.

<i>Source:Xinhua</i>



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