This TVO interview is from April, 2008.
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With GRATE respect to Mr. Roubini â€“ but personally what I am hearing is that is better to be â€œstupidâ€ and go after the house that you CAN NOT pay instead to save and then enter the market (what include convincing the wife ) – maybe government will bail you out on expense to the honest people?!? That system is WRONG and must/will get to the end.
Almost a year after this interview and “Dr. Doom” seems in this interview to be underplaying the severity of the economic contraction.
A recession of 12-18 months would be considered most optimistic today…