Forget the gloomy predictions: According to Richard Berner of Morgan Stanley, U.S. consumers are a year ahead of schedule in repairing their household balance sheets, giving them the ability to start spending again soon. And the head of the IMF was explicit Monday: A double dip is unlikely.
Nouriel Roubini, the renowned NYU economics professor with the nickname "Dr. Doom," has offered up another dire prediction: Even if the U.S. and Europe manage to avoid a double-dip recession, more than 400 U.S. banks will likely fail.
Economist Nouriel Roubini, known for his dire predictions about the economy, is once again living up to his nickname "Dr. Doom." Due to continuing economic troubles, Roubini pegs the chances of a double dip recession at 40%.
A few years ago, ever-rising home prices seemed like a sure bet. Today, Wall Street's sure bet is a weak and falling dollar. But investors would be wise to consider what would happen if the conventional wisdom falls short again.
