Frightening Talk of a Monster Recession

The New York Sun reports:

The economic weather report grows more threatening by the day. One graphic example: ever since last week's glum tidings on the housing front — notably July's skid in both existing and new home sales — the grim R-word (recession) is popping up with mounting frequency from the economic fraternity.

Among those in that ghoulish chorus is global economist Nouriel Roubini, who, economically, comes across as a frightening combination of Count Dracula, Frankenstein's Monster and Godzilla all wrapped up into one. Guaranteed, he'll scare the daylights out of you if you ask him what he thinks about the economy, unemployment or the stock market.

The Turkish-born skipper of New York-based Roubini Global Economics, an international economic consulting firm, and a professor of economics at New York University tells me: "We're just a few months away, probably in November or December, before we move into a recession."

Get used to hearing more about the R word.This could be some real news for the upcoming election.