The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: patron_anejo_por_favor who started this subject	8/13/2004 7:46:58 PM
From: Proud Deplorable	of 306849

►It's All Crashing Down Now...Morgan Stanley morganstanley.com "Eons ago, I was warned that “those who live in glass houses should never throw stones.” Fair point. But there are those who have taken great comfort from the Fed’s upbeat forecast that accompanied its latest policy action. My advice is to take that forecast with more than the usual grain of salt. Contrary to popular opinion, the Fed’s track record as a forecaster hardly puts it on a pedestal. The Fed is in the “soft patch” camp -- premised on the belief that a fundamentally sound US economy is only experiencing a temporary energy-related disruption. I hold the view that the US is fundamentally unsound -- increasingly vulnerable to the imbalances of its twin deficits, excessive household indebtedness, a record shortfall of national saving, and unusually anemic job creation and wage income generation. Only time will tell which forecast ends up being closer to the mark.

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