Friday, September 12, 2008
Over at Bloomberg, this video clip of Nouriel Roubini sharing his outlook on the housing market and economy appears near a clip featuring Jeremy Siegel ("Stocks for the Long Run") who sees a bottom in equity markets and thinks it's time to load up.
Some highlights from Nouriel:
- The recession (already underway) will last eighteen months
- The financial crisis will be with us for two or three years
- Two or three hundred banks will go bankrupt
- Home prices will fall a total of 40 percent through 2009
00:00 Outlook for financial markets, economyEveryone have a nice weekend...
02:26 "Serious weaknesses" in financial system
03:31 "Many have to be blamed" for woes; regulation
04:25 Impact of financial turmoil on economy
05:49 Timing of recovery, financial crisis outlook
06:26 Outlook for global economy
Running time 07:11