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.
More Quotes from Stephen Roach:
I honestly believe that if China were to revalue its currency upward by 10 percent -- a change I do not expect nor advise -- its exports would suffer minimal loss of market share,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
When he leaves ... he will take away 18 years of confidence the markets have invested in him.
Stephen Roach
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.
Stephen Roach
Europe looks at China as more of a strategic partner than a competitive threat so it has stayed more out of the currency debate than the U.S..
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
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Based on Topics: Experience Quotes, Opinions QuotesBased on Keywords: multi-year, self-financing, supply-side
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