Hedge Fund Legend Julian Robertson said Friday he expects the United States Economy is heading for a "Doozy of a Recession". Robertson told CNBC's Erin Burnett, "I think we are going to have a doozy of a recession". "I think the credit situation is worse than anyone realizes, and I think we are getting little inklings of that". "I don't think any of the formal indicators you would look at in the economy are really very strong. As a matter of fact, they are weak, and not getting any better." Robertson, Founder of the Investment firm Tiger Management, also expressed concerns about the devaluation of the dollar. Robertson explained that a weak dollar helps companies that export products outside the United States. Mr. Robertson's comments should be taken seriously enough that the Federal Reserve will most probably reduce the Federal Funds Discount rate another quarter point and quite possibly one half a point at their next meeting. Opinions...................
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