Roubini: 4th Quarter 'Dismal and Poor'

Not everyone is impressed by news of fourth-quarter growth in the U.S. economy: Nouriel Roubini, the New York University professor and economist who predicted last year’s financial crisis called the growth “very dismal and poor,” citing its reliance on artificial factors such as government stimulus spending. Roubini also predicted that growth will shrink from 5.7 percent to just 1.5 percent in 2010, saying “I think we are in trouble.” The economist sometimes referred to as “Dr. Doom” had equally bleak thoughts on the job market, forecasting a rise from the current 10 percent unemployment level. “It’s going to feel like a recession even if technically we’re not going to be in a recession,” he said.