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An Economic Warning45:56
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President Barack Obama speaks on the economy at the Brookings Institution in Washington, Tuesday, Dec. 8, 2009. (AP)
President Barack Obama speaks on the economy at the Brookings Institution in Washington, Tuesday, Dec. 8, 2009. (AP)

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White House adviser Larry Summers says the recession’s over.  His colleague Christina Romer says OK, but not really.  Not until unemployment is back around five percent.

My guest today, big investment adviser John Mauldin, says don’t hold your breath for that.  It could be a decade, he says – 2020 – before we get close.  And recession, double-dip style, could be back before then.  We are still in trouble, he says.

Up next On Point:  tough talk on the real US economy with big bear John Mauldin – and a brighter take from the Wharton School’s Jeremy Siegel on what comes next.

Guests:

John Mauldin, president of Millennium Wave Securities, an investment advisory firm, and author of the investment newsletters "Thoughts from the Frontline," "Outside the Box," and "The Accredited Investor: Private Investing and Hedge Funds." He's written several books, including "Bulls-Eye Investing" and "Just One Thing."

Read John Mauldin's take on the challenge of getting unemployment down to previous levels.

Jeremy Siegel, professor of finance at the University of Pennsylvania’s Wharton School of Business, and author of "The Future for Investors: Why the Tried and the True Triumph Over the Bold and the New,” and "Stocks for the Long Run.”

This program aired on December 16, 2009.

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