Nouriel Roubini and Nassim Taleb are widely credited with predicting the current financial crisis, and both told CNBC they see more rough waters ahead.
Even if we play our cards right, said Roubini, chairman of RGEMonitor.com, it will take at least 12 months to get out of this recession.
“If you don’t do everything right, and I think there’s a large probability that’s going to happen, then we may end up in a multi-year stagnation or near depression like the one that Japan had,” he added.
Roubini said there is still a 20 percent downside risk to U.S. global equities, and he advises investors to stay in cash until there is a real bottom.
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Wednesday, 11 February 2009
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