Dr. Doom Roubini Sees Ugly Q3 Growth, Douple Dip Odds Increasing

Dr. Doom is at it again.

Nouriel Roubini just said in a tweet that Q3 GDP growth is likely to come in at well less than 1%, indicating a sharp downturn in the economy. He also says it may be much closer to 0% growth, rather than 1%.

As a result of this, he sees the chances of a double dip recession at greater than 40%.

Roubini is a professor at Stern School, NYU. He is also the chairman of Roubini Global Economics (www.roubini.com), and a web entrepreneur.

Roubini also famously predicted the end of the real estate bubble.

In September 2006, he said, "When supply increases, prices fall: That’s been the trend for 110 years, since 1890. But since 1997, real home prices have increased by about 90 percent. There is no economic fundamental—real income, migration, interest rates, demographics—that can explain this. It means there was a speculative bubble. And now that bubble is bursting."