A 'Severe, Long, and Ugly' Recession Starting by the End of 2022
'Dr. Doom' Nouriel Roubini, September 2022: 'It's Going to Be Severe, Long, and Ugly'
The economist famous for calling 2008 said the U.S. would be in recession by the end of 2022, spreading worldwide and lasting through 2023. The U.S. economy kept growing.
What was said
“It's not going to be a short and shallow recession; it's going to be severe, long, and ugly”
— Nouriel Roubini (NYU economist, CEO of Roubini Macro Associates) · said Sep 19, 2022 · due From the end of 2022 through 2023
There was no U.S. recession in 2022 or 2023. The NBER chronology has no business-cycle peak after February 2020.
The fine print
Said in a Bloomberg interview the week of September 19, 2022. Fortune's summary: 'a recession is likely to hit the U.S. by the end of 2022 before spreading globally next year, conceivably lasting for the entirety of 2023.' He added: 'Many zombie institutions, zombie households, corporates, banks, shadow banks, and zombie countries are going to die.' Other recession calls: hanke-recession-2023, bloomberg-recession-2023.