“Nouriel Roubini picked the website “Project Syndicate: A World of Ideas” as the forum for his latest pessimistic comments about economies around the world. In this new case, the United States was his target:
If you enjoy the content at iBankCoin, please follow us on TwitterEven this year, the consensus got it wrong, expecting a recovery to above-trend annual GDP growth — faster than 3%. But the first-half growth rate looks set to come in closer to 1.5% at best, even below 2011’s dismal 1.7%. And now, after getting the first half of 2012 wrong, many are repeating the fairy tale that a combination of lower oil prices, rising auto sales, recovering house prices, and a resurgence of US manufacturing will boost growth in the second half of the year and fuel above-potential growth by 2013.”
