Dreadful Economic News From A Guy Who Would Know…

“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.''

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.

Yikes sez his Crankiness! The above material came from the Boston Herald at
http://business.bostonherald.com/businessNews/view.bg?articleid=55356.

That deficit spending and those tax cuts are gonna’ get us. [I got the link from the DailyKos.]