Nouriel Roubini: Markets Will Fall Another 20%
Source: http://feeds.feedburner.com/~r/ContrarianProfits/~3/418914796/6101Posted on Sunday, October 12th, 2008 | In Market Commentary
Contributed by: Contrarian Profits (http://contrarianprofits.com) -
Economics professor, former Clinton advisor and perma-bear forecaster Nouriel Roubini says the “severe systemic financial crisis” ripping through the markets will get worse before it gets better.
He warned investors on Bloomberg TV that the US now faces a meltdown in financials that Hank Paulson’s bailout bill won’t fix. Roubini says the bill is merely a way of “privatizing gains and socializing losses.”
He also warned investors that stock prices could fall another 20% and trigger a period of severe deflation.
Watch Roubini discuss the financial crisis on Bloomberg TV.
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