NYU’s Roubini: “Nowhere to Hide” from Global Slowdown

January 29, 2009 12:30am by Barry Ritholtz

Nouriel Roubini of NYU’s Stern School of Business is making fresh headlines, as he’s forecasting an even more dire outlook for the global economy. In an interview yesterday with Bloomberg News in Zurich, Roubini said:

* The U.S. will lose 6 million jobs with unemployment reaching at least 9 percent.
* The U.S. economy will expand 1 percent at most in 2010.
* Economic growth in China will slow to less than 5 percent.
* He reiterated his statements that the biggest U.S. banks are insolvent, and that losses could reach $3.6 trillion, far exceeding his original estimates.

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