[quote=AK]Did Roubini actually predict an end to the recession?[/quote]
Not exactly. His is the last quote. He’s saying that personal incomes are a better measure and that he expects them to take four years to recover, which if we use 15 months ago as the starting point, then we have two and three quarter years to go. I believe that takes us to 2011/12. I do like Roubini, especially his mechanical, stoic delivery, which never fails to mesmerize me.
What struck me about all their comments, was the lack of focus on the housing market. Whether we are to read into that, that other greater forces are now at play, and that once the housing crisis has sorted itself out our troubles are far from over, I’m not sure. I agree that economic forecasts are bit like asking how long is a piece of string, but if you don’t have a light bulb, then you have to use a candle, and if you haven’t one of those, then you’ve got to wait for the dawn.
