Word: roubini
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Dates: during 2000-2009
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Rounding out the top of the list from Cambridge were HLS graduate President Barack Obama (2)—an odd choice, we know—and economist and Harvard Ph.D. Nouriel Roubini...
...worse, slightly less than 6% of Wells' commercial real estate loans would default this year and next, which was much less than the industry average expected loss of as much as 12%. Some economists think it will be even worse than the government thinks. New York University economist Nouriel Roubini estimates that as much as 17% of commercial real estate loans could eventually go unpaid. Regulators wouldn't say why the government predicted that Wells' commercial loan portfolio would perform better than other banks. But if it doesn't, Wells' bottom-line losses could be a big negative surprise...
Here's the not-so-bad news: We are nearing a bottom. Housing prices are falling, but not as rapidly. Consumer confidence is up. Banks are earning money. The stock market in April had its best month in nine years. Even Nouriel Roubini, the New York University professor known for his dire economic predictions, thinks we are on the mend. Sort...
That's not to say the recession is over. Roubini sees the road to recovery as a long and choppy one, with unemployment rising toward 12%. So don't trade in your emergency fund for a boat. But when it comes to your investing life, it's time to get back into the water. "People think that things need to go from terrible to terrific before they can invest," says Fidelity's legendary stock picker Peter Lynch. "But things only have to get to somewhat crummy for stocks...
...months and counting, this recession looks more and more U-like--one in which a rebound takes time. That's the picture Roubini is painting. He says no amount of government stimulus can make us shoppers again--we have too much debt. When paychecks resume or start to grow again, lenders will get that cash, not retailers. Consumer spending made up as much as 70% of the economy before the bust. With less shopping, Roubini says, there is little chance for a quick rebound. "If we do everything right, we can avoid an L-shaped near depression, which...