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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Crimson Ghost who wrote (50407)	5/2/2006 2:05:54 PM
From: Chispas	Read Replies (1) of 116555

Basserdan reports - "Yesterday, in a turnaround reminiscent of the 1960's film 'Cool Hand Luke', the bosses at Morgan Stanley finally succeeded in getting poor old Stephen Roach's mind right. For years Mr. Roach had caused headaches up and down Wall Street for his stubborn 'failure to communicate' the upbeat messages so vital to the investment trade. Instead he was one of the most influential voices calling attention to the dangers of America's lack of domestic savings and production, growing current account imbalances, and reliance on asset-based consumption. The more upbeat Stephen Roach now anticipates the rosy 'soft-landing.' scenario. What happened to cause him to finally make lemonade from all those economic lemons? Why the G-7 and the IMF finally acknowledged that global imbalances represented a potential problem. So Stephen Roach does a complete 180 simply because a loose affiliation of government policy makers reluctantly admitted the obvious? Since when does acknowledging a problem imply its solution? Rest of article with link : investorshub.com

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