Word: roache
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Most worried of all is Stephen Roach, chief economist at U.S. investment bank Morgan Stanley, who for several years has warned that the U.S.'s borrowing and consumption binge will come to a bad end, with consequences that include a likely fall in the value of the dollar. (And this bear doesn't cry wolf--Roach was right in predicting the dotcom crash.) The problems will not have gone away even if the dollar remains buoyant, he said, warning of a "dangerous degree of complacency" among investors. "The weakest link in the global-growth chain in 2006 is the most...
Such drastic steps are feeding a backlash against globalization that is of growing concern. "There's a win-win depiction of globalization that the world doesn't buy," Roach said. Added Tyson: "In the U.S., I can find very few groups who deeply understand the economic dependency of the U.S. and China and speak positively about it. They see China more as a power threat than as an effective economic ally, as a threat to American jobs rather than a source of jobs, and as a threat to U.S. financial markets rather than a source of funds that gives...
...Federal Reserve, Ben Bernanke, will deal with unforeseen problems. Jacob A. Frenkel, a former governor of the Bank of Israel who is vice chairman of insurer American International Group, is concerned about increased calls for protectionism, including by U.S. Senator Charles Schumer. Most worried of all is Stephen S. Roach, chief economist at U.S. investment bank Morgan Stanley who for several years has warned that the U.S.'s borrowing and consumption binge will come to a bad end, including a likely fall in the value of the dollar. The problems haven't gone away even if the dollar remains buoyant...
...workers and close 14 plants in the U.S. in a huge restructuring to shore up its finances. Such drastic steps are feeding a backlash against globalization that's of growing concern to the panelists. "There's a win-win depiction of globalization that the world doesn't buy," Roach said. Added Tyson: "I worry that there are many, many voices who feel they are being harmed by globalization. In the U.S. I can find very few groups who deeply understand the economic dependency of the U.S and China and speak positively about it. They see China more as a power...
Dorm renovations? No; with the epidemic of floods, the bizarre heating fluctuations, roach infestations, and general run-down condition of the suites I’ve had occasion to visit, that can’t be the case. Perhaps hiring and training better teaching fellows? Clearly not—no explanation required. No, while any of these other worthwhile endeavors would seem a logical place to start utilizing such an abundant sum of money, I’ve figured out what’s really going on—they’re spending the money on ice cream...