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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: CalculatedRisk who wrote (1287)3/5/2004 12:27:37 PM
From: mishedlo  Read Replies (1) of 116555
 
Roach
The last paragraph is the key paragraph.
Here goes:

With risks of new asset bubbles rising, there is a growing urgency for a normalization of US interest rates. Unwinding an ever-dangerous carry trade is a small price to pay to avoid the most treacherous endgame of all. America, in my view, is probably only one bubble away from outright deflation. Paul Volcker had the courage to stand up to inflation in 1979. Now it’s up to Alan Greenspan to wage an equally heroic battle.

morganstanley.com
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Unfortunately the "remedy" he suggests would quickly bring it on.
Mish
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