And the U.S. is catching much of the blame...
Experts downbeat on global economy
Fri September 2, 2011 8:13 AM
SeekingAlpha.com
CERNOBBIO, Italy -- Business leaders and finance experts gathered in Italy offered a downbeat assessment of the global economy Friday _ with several predicting another recession due to a calamitous cocktail of sluggish growth, eurozone dysfunction, and financial market volatility.
The year's events _ from natural disasters and violent uprisings to fears of debt defaults _ have not only sent shock waves through the financial world but also caused a slump in confidence among consumers and industry.
"There is a significant probability of a double-dip recession," pronounced New York University economist Nouriel Roubini, in opening remarks that lived up to his nickname of "Dr. Doom" _ earned for forecasting a financial crisis years before the 2008 crash, even as many reveled in the boom times.
On this occasion Roubini seemed to reflect prevailing sentiment at the annual Ambrosetti Forum on the shores of an overcast Lake Como _ although some felt that at least the emerging economies and a few countries in northern Europe would do fine.
Much of the concern focused on the United States.
"The numbers that we've seen recently for the U.S. on manufacturing, on construction, on consumers' sentiment tell me that the odds have gotten much greater that the U.S. is going to continue to decline and that we are going to be in a formal recession before the end of the year," Harvard University economic professor Martin Feldstein, a member of the President Barack Obama's Economic Recovery Advisory Board, told the Associated Press.
Full story: http://seekingalpha.com/news-article/1762095-experts-downbeat-on-global-economy
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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