I think there's every reason to believe that another jobless recovery could be in the offing in the years immediately ahead -- one that would take a comparable toll on consumer demand.
More Quotes from Stephen Roach:
If the Schumer-Graham bill closes down U.S. trade with China through the imposition of steep tariffs, a saving-short U.S. economy will simply have to divert a significant portion of its multilateral trade deficit elsewhere.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
Never in modern history has the world's leading economic power tried to do so much with so little. Now Washington is upping the ante as it opens the fiscal spigot to cope with post-Katrina reconstruction at the same time it is funding the ongoing war in Iraq. Could this be a tipping point for America's shoestring economy
Stephen Roach
The major risk to the global economy is complacency. We cannot keep thinking that we can shrug off the deficit and the property bubble.
Stephen Roach
To the extent such a payback is likely after the current spending burst, it could act as a sharp depressant on overall demand growth in subsequent quarters. That development, in the context of a lingering jobless recovery, could raise serious questions about the staying power of America's current cyclical resurgence.
Stephen Roach
This is the year to watch out carefully for the end of the great American spending binge.
Stephen Roach
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Based on Keywords: jobless, offingI think you have to be yourself, and you have to be real and you have to admit what you don't know, and talk about what you do know, and talk about what you don't know as long as you say you don't know it.
Anderson Cooper
Cocktail music is accepted as audible wallpaper.
Alistair Cooke
You know, I think when I reflect on it, I think there's certainly a sense of history. When you have ambitions to play this game, you want to be one of the best ever, and you want to play so well and be so effective that you want people to remember your name 100 years from now.
Marcus Allen