The major risk to the global economy is complacency. We cannot keep thinking that we can shrug off the deficit and the property bubble.
More Quotes from 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
If that's the economic model, China is in trouble.
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China's senior leadership gets it while many outside the country do not.
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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.
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Consumers have stagnant real wages and they are getting hit with the shocks of higher energy prices. This is not a good combination for the overstretched consumer.
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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 Topics: Property QuotesBased on Keywords: shrug
It is certain, indeed, that the sacred writers were apt to make great allowances for people with empty stomachs, and though I am well aware that the present profane ones think this very reprehensible, I venture to agree with the sacred writers.
James Payn
The tensions are always based on financial resources. Something like film is very problematic because it is viewed as an art form and also as an industry with a pure commercial base.
Ann Macbeth
My heart is in a world of water and crystal, My clothes are damp in this time of spring rains.
Du Fu