Roubini Global Economics) spoke with CNBC Europe Squawk Box before the Ambrosetti Forum in Italy. The view is from Villa D'Este on Lago di Como (Lake Como), Roubini Twitpic'd a better view. He still sees a 40% chance of a double dip recession. View the full 12 minute video below.
Today, the Labor Department reported that the economy lost 54,000 jobs, better than the 120,000 (economists) or 90,000 (wall street) loss expected. The unemployment rate rose to 9.6% (Aljazeera, Forbes). Also, Royal Bank of Scotland Plans to Cut 3,500 Jobs. Happy Labor Day people. Nice short covering today, $SPY closed at 110.91 +1.30%, see previous post for long and short term charts with moving averages. I parsed a few things from the video.
*Growth in the second half of the year will be worse than the first half, we'll reach a stall speed for the economy less than 1%.
Big Mortgage Servicer Reaches Settlement
13 minutes ago