Roubini worried about recovery, due to interest rates and oil prices

The price of oil, which is rising too fast, and long-term interest rates that are beginning to creep up are likely to suppress a budding recovery, famous economist Nouriel Roubini, also dubbed "Dr. Doom," told CNBC Monday.

"I see even the risk of a double-dip, W-shaped recession… towards the end of next year," Roubini told "Squawk Box Europe."

Because of bad macroeconomic data and poor earnings prospects as companies have weak pricing power and demand is still subdued, the surprises will be on the downside, he said.

"That's why I believe there's going to be a significant market correction for equities, for commodities and even for credit," Roubini added.

He said recovery signs should come from unemployment, housing, industrial production, sales and consumption data.

"When I look at them I see so far still more yellow weeds than green shoots...", he added.

I might have to agree with you, Dr. Doom. The plus side, if any, is that falling equities should lead to lower interest rates, again. The question is whether or not the real estate market will remain in recovery by then, or if this is all just a dead cat bounce.

SOURCE: CNBC