Renowned economist

Nuriel Rubin expressed the opinion that the worst moments of the financial crisis left behind.

At the same time as the transfer Reuters, Rubin believes that the U.S. needed an additional package of financial incentives by the end of this year. He justified his conclusion that the unemployment rate in the country is fast approaching the 10%.

Developed countries have already touched the bottom or close to it, but the recovery will be very slow. In particular, the Economist suggests that the United States will remain at the stage of a recession this year.

This is a light at the end of the tunnel and the light of this, and not from headlights coming toward the train, - said Rubin on the current state of the economy.

Concerning the new package of financial incentives Economist has identified the possible need for the amount of $ 200-250 billion, which in the opinion of Rubin, was not too big nor too small. In doing so, the economist fears that if too much money to allocate, then the financial markets have concerns about the financial stability of the United States.

Rubin also noted that while the economies of developed countries, on average, will be sufficient to recover slowly, developing countries are in better shape to get out of recession.

Against the backdrop of statements by Rubin stock indices in the United States has gone up, and the quotations of oil escaped from the minus, and showed an increase as a result of the day. For example, Dow Jones industrial average rose by 95.61 point, or 1.1%, to 8,711.82, while Standard and Poor s 500 rose 8.06 point, or 0.9%, to 940.74.

Recall that in May, Rubin predicted the current financial crisis, said that despite the possible termination of an economic slowdown in the United States by the end of this year, possibly another drop in the economy next year. He expressed the view that there is a risk of double-drop or W-shaped recession in late 2010. This may be caused by a combination of rising oil prices, public debt and interest rates on loans.

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