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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (44649)	1/27/1999 10:37:00 AM
From: geewiz	Read Replies (1) \| Respond to of 132070

Mike, I posted an interesting article from Stephan Roach several months ago questioning productivity growth. Now the guy is sounding more bearish questioning the global capital markets! How can any economist be so cynical and keep his job with Morgan stuck-up? Thanks to Hiram from the Tulipomania thread. Message 7480169 Global: The Policy Bubble Stephen Roach (New York) The interplay between asset markets and real economic activity is becoming increasingly unstable. With each twist and turn in the global currency crisis, G-7 policy makers are understandably upping the ante of fiscal and monetary accommodation. Liquidity-driven investors have seized on this "policy bubble" as a powerful impetus for ever-expanding stock and bond markets. Yet this explosion in paper wealth is increasingly at odds with the weakened underlying state of global economic activity that it purportedly represents. What gives? ................... later, art