Saturday, March 9, 2013

Nouriel Roubini : Stocks Could Correct Later This Year

Nouriel Roubini Brace for Market Correction Later This Year: "These taxes, taxes for the rich are going to significantly reduce disposable income and retail sales have been a disaster. And there are already signals of consumption growth slowing down as well as the sequester and the fiscal drag this year will be 1.5 percent of GDP (gross domestic product) for an economy that was barely growing last year,"

Nouriel Roubini, co-founder and chairman of Roubini Global Economics, tells CNBC Europe that the stock market could be surprised by how much the U.S. economy slows down in the second half of the year, causing it to "correct somehow."

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