11/23/2004

Daily Kos :: The Coming Financial Implosion, What to Do?

Daily Kos

The Coming Financial Implosion, What to Do

by bink

I'm sure that everyone here has read the story in the Boston Herald (gack) via Atrios about recent remarks made in a speech by Morgan Stanley Chief Economist Stephen Roach.

If not, here is, roughly, what he said:

An economic Armageddon is approaching and the country has a ten percent chance of passing through unscathed.

The biggest problems are absolutely apparent to any casual observer of our nation's economic predicament: 1) Government spending, 2) Government debt and 3) Consumer debt.

Debt, spending, debt, spending, debt.

He forgot the oil -- law

BBC NEWS | Business | Is the world's oil running out fast?

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home