Jul 24, 2012

The Consensus Got It Wrong

Even this year, the consensus got it wrong, expecting a recovery to annual GDP growth of better than 3 percent.

And now, after getting the first half of 2012 wrong, many are repeating the fairy tale that a combination of lower oil prices, rising auto sales, recovering house prices, and a resurgence of U.S. manufacturing will boost growth in the second half of the year and fuel above-potential growth by 2013. - in Yahoo Finance

Related: SPDR SP 500 ETF (NYSE:SPY), SPDR Dow Jones Industrial Average ETF, iShares MSCI Emerging Markets (ETF) (EEM)

Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.