US & UK Already in Recession, Claims Dr Doom | Countdown to Financial Armageddon |

“At this point, the issue is not whether there is going to be a recession or a double-dip but whether it’s going to be relatively mild or whether it’s going to be a severe recession and a global financial crisis,” Roubini said. “The answer to that question depends on what’s going to happen in the eurozone and whether they can get their act together.”