Roubini: Views on Economy Unchanged Despite Reports

Discussion in 'Wall St. News' started by piggie2000, Jul 16, 2009.

  1. Roubini: Views on Economy Unchanged Despite Reports
    Published: Thursday, 16 Jul 2009 | 5:41 PM ET Text Size By:
    Nouriel Roubini, the economist whose dire forecasts earned him the nickname "Doctor Doom," said after markets closed Thursday that earlier reports claiming he sees an end to the recession this year were "taken out of context."

    "It has been widely reported today that I have stated that the recession will be over 'this year' and that I have 'improved' my economic outlook," Roubini said in a prepared statement. "Despite those reports ... my views expressed today are no different than the views I have expressed previously. If anything my views were taken out of context."

    Several business news outlets, picking up on a report initially from Reuters, earlier Thursday cited Roubini as saying that the worst of the economic financial crisis may be over.

    The New York University professor was quoted by Reuters as saying that the economy would emerge from the recession toward the end of 2009.

    Reports of his comments helped trigger a late rally in the stock market.

    Roubini added late Thursday that he sees no economic growth before the end of 2009.

    "I have said on numerous occasions that the recession would last roughly 24 months. Therefore, we are 19 months into that recession. If as I predicted the recession is over by year end, it will have lasted 24 months with a recovery only beginning in 2010. Simply put I am not forecasting economic growth before year's end."
  2. Daal


    The green horticulturists will spin anything
  3. S2007S


    Amazes me how some some simple news this shallow can move markets higher.
  4. There are a TON of BEARS out there ( like yourself ) that continue to sell this market short and get their head handed to them.

    If you want to see the definition of a short "squeeze" simply take a look at today's charts from 1:30pm on, and then the "spike" that occurs around 3:45pm as all the shorts covered before the IBM earnings, only to fall back into the close on the SPY.

    Seriously, if you actually traded for a living you would not keep on hammering away on ET with all of your BEARISH posts. You would be much more RESPECTFUL of the tape action and the "bid" in the market (especially in the energy, drilling, and coal names ) whenever the dollar gets weak.

    Have you looked at the coal stocks this week?

    Feel free to check out the charts of:


    If you actually TRADED every day you wouldn't be making such grandiose BEARISH claims. Today's move pushed an awful lot of stocks up through their strike prices and market-makers were forced to "tinker" with their hedges, thus buying stock.

    Do everyone here a favor at ET and actually look at some charts for a change. There's an awful lot of TECHNICAL action going on that you never seem to consider. If you did, you'd actually have a clue as to what is ACTUALLY going on.

  5. I want everyone to allow me the privilege of rubbing Landis's nose in puppy shit the day and/or week the markets crash hard, ala 5% in a day and 10%+ the week, when the polyannish clannish finally can't positively spin terrible fundamentals to the sheeple anymore - give me that one request.

    Landis, you ignorant slut.


    Landis has become the official stalker-troll of ET; a designation he appears to relish.

    Here's some relish, Landis: