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Steven Roach starts to worry

 
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fishertrop



Joined: 24 Nov 2005
Posts: 859
Location: Sheffield

PostPosted: Mon Aug 15, 2005 10:35 pm    Post subject: Steven Roach starts to worry Reply with quote

For those not familiar, Steve Roach (at Morgan Stanley) appears to be one of the few "regular" economists with a real grasp on true issues.

His scribe here makes very intersting reading:
http://www.morganstanley.com/GEFdata/digests/20050815-mon.html#anchor0

Stephen Roach wrote:

All this points to what could be the biggest macro call that any of us will have to make for a long time -- the capitulation of the unflinching American consumer. Needless to say, this would have profound implications for the rest of the global economy -- largely a US-centric world that is utterly lacking in support from autonomous domestic consumption.
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