Pages
- About Lux Libertas
- Chronology of the Current Fiscal Crisis
- Maps
- United States Government
- The Articles of Confederation
- The Federalist Papers
- The Declaration of Independence
- Constitution of the United States
- United States History
The Founding Fathers Said...
- May 22, 1455: The first battle in the 30-year War of Roses took place at St. Albans.
- May 22, 1849: Abraham Lincoln received patent number 6469 for his floating dry dock.
- May 22, 1992: Johnny Carson hosted the last episode of his Tonight Show.
- More events from This Day in History: May 22
Tags
Meta
Recent Posts
- WSJ – Cory Booker’s Apostasy
- WSJ – Targeting John Roberts
- McGurn: The Dumbing Down of Joe Biden
- Mary Ann Glendon: Why the Bishops Are Suing the U.S. Government
- Cory Booker’s Advice
- Centrist Censor
- IRS Gives Billions in Tax Refunds to Illegals
- Stupidity Laws Could Have Stopped Obama
- Rational People Fear Big Government, Not Big Business
- Obama’s Morbid Vanity
Categories
- America
- Book Review
- Censorship
- Civil Liberty
- Cyber War
- Economics
- Editorial
- Education
- Energy
- Environment
- Ethics
- Global Warming
- Government Waste
- Gun Control
- Health Care
- History
- Homeland Security
- Humor
- Illegal Immigration
- Inspiration
- Intelligence
- International Relations
- Judiciary
- Labor
- Media Bias
- National Defense
- Opinion
- Our Foundation
- Patriotism
- Politics
- Presidency
- Religion/Faith
- Secrecy
- Taxation
- The Constitution
- The Patriot's Journal
- the UN
- Trade
- Uncategorized
- Valor
- Veteran's Affairs
- Video
- War of Independence
- War on Drugs
- War on Terror
- We Remember
- World War I
- World War II
Archives
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
Contributors
Contact Lux Libertas
By Simon Kennedy and Erik Schatzker
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.
To contact the reporter on this story: Simon Kennedy in Davos at skennedy4@bloomberg.net
Read at: http://www.bloomberg.com/apps/news?pid=20601087&sid=aqLMEUObhysc
No Comments »
No comments yet.
RSS feed for comments on this post. TrackBack URL
