Rosenberg Sees ‘No Better’ Than 1% U.S. Growth in 2009

June 10, 2008 3:30am by

Merrill’s Chief Economist is not very sanguine on the odds for a quick bounce back.

Audio: Rosenberg Sees `No Better’ Than 1% U.S. Growth in 2009   

David Rosenberg, chief North American economist at Merrill Lynch & Co., talks about the May U.S. employment report, the possibility of "stagflation" in the U.S. economy and the outlook for growth.

00:00 Jobs report, outlook for U.S. economic growth
07:31 Home prices; inflation-commodity price link 
13:00 Home market outlook; "It’s not stagflation."
15:55 Bond spreads; consumer price inflation
19:41 Is America ready to retire?                

Running time 21:05
Last Updated: June 6, 2008 17:49 EDT

Source:
Rosenberg Sees ‘No Better’ Than 1% U.S. Growth in 2009: Audio
Bloomberg,
June 6 2008
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=azFFQSoEKDOc

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What's been said:

Discussions found on the web:
  1. Andy Tabbo commented on Jun 10

    This guy sounds like a pretty clear thinker.

    I think Trichet is making a huge mistake. And I believe Bernanke is making a big misstep by talking tougher on inflation and hinting rate increases.

    The ag/energy inflation is a result of several factors beyond monetary policy and have turned into a mania/bubble that will inevetibly blow off or cure itself. It’s a political year and John Q. Public is pissed about the gasoline prices. So, Bernanke, despite his knowledge of great depressions, is making a serious misstep.

    While inflation is a problem, it’s not the biggest problem we’re facing. The bigger problem is the TRILLIONS of dollars disappearing in the form of the housing and credit bubble deflating.

    Beranke and Co. would be much better off keep the dollar cheap and compel the government to address some of the inflationary regulations they’ve passed or failed to pass in the last few years: namely the ethanol MISTAKE and the lack of a clear energy/alternative energy policy.

    – AT

  2. Ed H commented on Jun 10

    Rosenberg is one of the best economists on Wall Street. I look forward to hearing what he has to say.

  3. gloomy commented on Jun 10

    All of the questions can be answered with 1 word:
    Depression

  4. gloomy commented on Jun 10

    All of the questions can be answered with 1 word:
    Depression

  5. uncool commented on Jun 10

    Barry, that was most interesting. Thanks for posting URL. He made interesting points.

  6. Ken H. commented on Jun 10

    AT,

    I think BB is all hot air right now to talk up the dollar. A weak dollar is okay and probably short term pain for long term good. We just can’t tolerate a full blown collapse.

  7. Ken H. commented on Jun 10

    and….realize that I am a super model so no one on this blog should take the last post as financial advice and talk to their broker to see if taking the opinion of a super model is right for you.

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