Growth has been chronically weak when compared with any expansion of the past 40 years.
More Quotes from Stephen Roach:
Without the consumer, revival remains all too dependent on tenuous support from China and business investment.Stephen Roach
China's senior leadership gets it while many outside the country do not.
Stephen Roach
The same distortions, in my view, could well be explaining a lot of the recent strength in the remainder of the U.S. data flow. If that's the case, all it will take is for the weather to return to normal and the seasonally adjusted data will fall like a stone.
Stephen Roach
Unlike the case a decade ago, I view the coming normalization of Fed policy as a much more serous threat to economic recovery in the U.S. and the broader global economy,
Stephen Roach
Like it or not, the experience of the 1980s demonstrates that supply-side tax cuts are not self-financing. In my opinion, similar results can be expected from the multi-year tax cuts now on the table in Washington.
Stephen Roach
For the United States, it's the end of labor as we once knew it.
Stephen Roach
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