Biz people

Roubini's poor prognosis for US

There's still bad news ahead for the US economy and the bear market for stocks is not over yet, according to a prominent economist who foretold much of the current turmoil.

Nouriel Roubini (below), a professor at New York University's Stern School of Business and chairman of economic research firm RGE Monitor, said that he expected more dour macroeconomic data and problems in the banking and housing sectors, as well as pressures on consumers.