Dr. Connected Stays Gloomy, Gets More Connected

Nouriel Roubini, who counted President Obama's top economic advisor, Larry Summers, as a silent partner in his forecasting firm, remains bearish on the economy. Re the outlook for the U. S. economy, in an interview with the WaPo, he said:

Next year, I believe that the growth rate is going to be low -- 0.5 percent for the U.S., compared to the consensus view of [plus] 2 percent. I believe the unemployment rate this year is going to go well above 10 percent and will be well above 11 percent next year, so even if we are technically out of a recession, we are going to feel like we are in a recession.

He also now sits on the Congressional Budget Office's Panel of Economic Advisers.