Roubini: The Perma-PiñataBy
Nouriel Roubini: “As the housing sector slumps, the job and income and wage losses in housing will percolate throughout the economy. … This is the tipping point for the U.S. consumer and the effects will be ugly. Expect the great recession of 2007 to be much nastier, deeper and more protracted than the 2001 recession.”
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