Roubini Makes More Positive Noises About Economy!

OK, not “positive,” exactly, but certainly less negative than he’s sounded over the past 18 months.

Professor Nouriel Roubini, you’ll recall, is known as “Dr. Doom,” the most famous of the handful of economists who actually predicted the current debacle. A few days ago, after a speech in Italy, he was quoted as saying he might see some “light at the end of the tunnel.”  And he repeated a similiarly non-apocalyptic outlook on TechTicker this morning.

To be clear: Roubini is NOT predicting an imminent recovery. He thinks that most economists are still way too bullish, that the stock market will retest its lows, and that unemployment will eventually rise over 10%. He just thinks that the quarter that is now ending, Q1, will be the worst rate of decline in the economy and that things will gradually stop deteriorating and then get better from here.

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