Robertson Calls for Recession

Legendary investor Julian Robertson shares his thoughts of a recession, with CNBC's Erin Burnett.

Mr. Robertson said, "I think we are going to have a doozy."

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In the many past recessions I have seen, we always had a strong Industrial base to keep our economic foundation alive. We were down, never out.

But now with the Irrational Environmentalists and Greedy Unions having driven much of our industry overseas, it won't be quite that easy. Note: Not all Unions are greedy nor all Environmentalists Irrational.

If we are to survive we will need to learn what we had once taught to others. That is how to compete and this time we won't have a technological edge as we did before.