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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (308)7/28/2003 10:26:52 AM
From: ild  Read Replies (2) of 110194
 
Global: The Quality of Economic Recovery
Stephen Roach (New York)

morganstanley.com

...With the equity bubble having been followed in succession by bubbles in property, mortgage refinancing, credit, and most recently bonds, an ever-deepening moral hazard dilemma has become an equally worrisome consequence of any economic recovery in this climate. The authorities’ fear of popping bubbles has made for a most intractable exit strategy.
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