Economic `Armageddon' predicted in the United States - GoFuckYourself.com

messiah1 · 11-25-2004, 04:57 PM

Economic `Armageddon' predicted
By Brett Arends/ On State Street
Tuesday, November 23, 2004

Stephen Roach, the chief economist at investment banking giant Morgan Stanley, has a public reputation for being bearish.
But you should hear what he's saying in private.
Roach met select groups of fund managers downtown last week, including a group at Fidelity.
His prediction: America has no better than a 10 percent chance of avoiding economic ``armageddon.''
Press were not allowed into the meetings. But the Herald has obtained a copy of Roach's presentation. A stunned source who was at one meeting said, ``it struck me how extreme he was - much more, it seemed to me, than in public.''
Roach sees a 30 percent chance of a slump soon and a 60 percent chance that ``we'll muddle through for a while and delay the eventual armageddon.''
The chance we'll get through OK: one in 10. Maybe.
In a nutshell, Roach's argument is that America's record trade deficit means the dollar will keep falling. To keep foreigners buying T-bills and prevent a resulting rise in inflation, Federal Reserve Chairman Alan Greenspan will be forced to raise interest rates further and faster than he wants.
More:
http://business.bostonherald.com/bus...rticleid=55356

messiah1 · 11-25-2004, 05:10 PM

I'm starting to piss my pants.

Doctor Dre · 11-25-2004, 05:11 PM

Already been posted

messiah1 · 11-25-2004, 05:12 PM

Quote:

Originally posted by Doctor Dre
Already been posted

A-Ok USA

Shoehorn! · 11-25-2004, 05:15 PM

Shit.

VirtuMike · 11-25-2004, 05:23 PM

I think the US economy will hit a point where it just won't fall anymore. No matter what the rest of the world thinks, the US still is the largest single country economy, still posesses technology beyond any other country, and has tremendous assets beyond any other country.

Just because it's currently in the hands of maniacs doesn't mean it's done.

Everything is temporary.

neewwman · 11-25-2004, 11:44 PM

Maybe I'd better refinance and get a fixed-rate mortgage.

Or convert all my dollars to Euros.

Or just hide in bed with the covers over my head.

Dildozer · 11-25-2004, 11:47 PM

Now's the time to just stay back, keep our money close and wait and see investors drop like flies.

Then the vultures fly in a pick at the carcasses, there will be a lot of money to be made!

Fap · 11-25-2004, 11:49 PM

Quote:

Originally posted by VirtuMike
I think the US economy will hit a point where it just won't fall anymore. No matter what the rest of the world thinks, the US still is the largest single country economy, still posesses technology beyond any other country, and has tremendous assets beyond any other country.

Just because it's currently in the hands of maniacs doesn't mean it's done.

Everything is temporary.

ignornant much?

xclusive · 11-25-2004, 11:57 PM

Quote:

Originally posted by VirtuMike
I think the US economy will hit a point where it just won't fall anymore. No matter what the rest of the world thinks, the US still is the largest single country economy, still posesses technology beyond any other country, and has tremendous assets beyond any other country.

Just because it's currently in the hands of maniacs doesn't mean it's done.

Everything is temporary.

Oh i agree that America will rise again I'm just fearing it will be awhile...

Axeman · 11-26-2004, 12:21 AM

Quote:

Originally posted by neewwman
Maybe I'd better refinance and get a fixed-rate mortgage.

Or convert all my dollars to Euros.

Or just hide in bed with the covers over my head.

I would definitely be looking to lock in at a low rate before they are raised. Its going to happen soon.

11-25-2004, 04:57 PM	#1
messiah1 Confirmed User Join Date: Nov 2002 Posts: 549	Economic `Armageddon' predicted for the United States Economic `Armageddon' predicted By Brett Arends/ On State Street Tuesday, November 23, 2004 Stephen Roach, the chief economist at investment banking giant Morgan Stanley, has a public reputation for being bearish. But you should hear what he's saying in private. Roach met select groups of fund managers downtown last week, including a group at Fidelity. His prediction: America has no better than a 10 percent chance of avoiding economic ``armageddon.'' Press were not allowed into the meetings. But the Herald has obtained a copy of Roach's presentation. A stunned source who was at one meeting said, ``it struck me how extreme he was - much more, it seemed to me, than in public.'' Roach sees a 30 percent chance of a slump soon and a 60 percent chance that ``we'll muddle through for a while and delay the eventual armageddon.'' The chance we'll get through OK: one in 10. Maybe. In a nutshell, Roach's argument is that America's record trade deficit means the dollar will keep falling. To keep foreigners buying T-bills and prevent a resulting rise in inflation, Federal Reserve Chairman Alan Greenspan will be forced to raise interest rates further and faster than he wants. More: http://business.bostonherald.com/bus...rticleid=55356 Last edited by messiah1; 11-25-2004 at 05:01 PM..

11-25-2004, 05:15 PM	#5
Shoehorn! Die With Your Boots On Join Date: Oct 2003 Location: Hawaii Posts: 22,872	Shit. __________________

11-25-2004, 05:23 PM	#6
VirtuMike Confirmed User Join Date: May 2002 Location: Seat 1A Posts: 2,483	I think the US economy will hit a point where it just won't fall anymore. No matter what the rest of the world thinks, the US still is the largest single country economy, still posesses technology beyond any other country, and has tremendous assets beyond any other country. Just because it's currently in the hands of maniacs doesn't mean it's done. Everything is temporary. __________________ Host it in AMSTERDAM at EUROTIVITY! - We also offer BACKUP SERVICES! XYZZY4L

11-25-2004, 11:44 PM	#7
neewwman Confirmed User Join Date: Jan 2002 Location: Los Angeles, CA, USA Posts: 1,737	Maybe I'd better refinance and get a fixed-rate mortgage. Or convert all my dollars to Euros. Or just hide in bed with the covers over my head. __________________ Porn Wealth Everything the newbie adult webmaster needs to know. Buy it, or sell it through our 50% affiliate program!

11-25-2004, 11:47 PM	#8
Dildozer Confirmed User Join Date: Jul 2002 Location: Montreal Posts: 7,519	Now's the time to just stay back, keep our money close and wait and see investors drop like flies. Then the vultures fly in a pick at the carcasses, there will be a lot of money to be made! __________________ Spam link here

11-25-2004, 05:10 PM	#2
messiah1 Confirmed User Join Date: Nov 2002 Posts: 549	I'm starting to piss my pants.