Nouriel Roubini: “What’s happening in the world now is scary.”

Contrary to what Bernanke believes–are we surprised?–Roubini believes a 36 month recession is possible (see video that doesn’t work on WordPress), with the danger of settling into a Japanese-style period, which looks L-shaped on a graph instead of a V-shaped (fairly quick recovery) or a U-shaped recovery (slower recovery).

Snagged from the glittering eye, a graph that compares the Japan’s “lost decade” to what’s happening now in the U.S.:

Check out how much the federal government is borrowing…  Egads. Why don’t we just call it a depression and get it over with?

(h/t: digby)