(Cross-posted from The Free Speech Zone)
It’s because of this spirit — this great decency and great strength — that I have never been more hopeful about America’s future than I am tonight.
All aboard the Obama Job Creation Fail Whale!
Jan. 30 (Bloomberg) — New York University Professor Nouriel Roubini, who anticipated the financial crisis, called the fourth quarter surge in U.S. economic growth “very dismal and poor” because it relied on temporary factors.
Roubini said more than half of the 5.7 percent expansion reported yesterday by the government was related to a replenishing of inventories and that consumption depended on monetary and fiscal stimulus. As these forces ebb, growth will slow to just 1.5 percent in the second half of 2010, he said.
“The headline number will look large and big, but actually when you dissect it, it’s very dismal and poor,” Roubini told Bloomberg Television in an interview at the World Economic Forum’s annual meeting in Davos, Switzerland. “I think we are in trouble.”
Roubini said while the world’s largest economy won’t relapse into recession, unemployment will rise from the current 10 percent, posing social and political challenges.
“It’s going to feel like a recession even if technically we’re not going to be in a recession,” he said.
3 comments
Author
save our souls, if we have souls.
Obama continues in the path of a war criminal
U.S. citizen in CIA’s cross hairs
President Obama has already given his blessing to murder Americans without due process. The President has a “Hit List”