Economist Stephen Roach thoroughly debunks the myth that the U.S. is poised to ride out the current phase of the Global Financial Trainwreck.

The GuardianThe great American economic mirage

In September 1998, during the depths of the Asian financial crisis, Alan Greenspan, the US Federal Reserve's chairman at the time, had a simple message: the US ( Read more... )

( Read more... )

From Robert Reich's Blog
The Great Disconnect Between Stocks and Jobs

How can the stock market hit new highs at the same time unemployment is hitting new highs? Simple. The market is up because corporate earnings are up. Corporate earnings are up because companies are cutting costs. And the biggest single cost they’re cutting is their payrolls. ( Read more... )

HT: Barry Ritholtz

Stephen Roach:
"Only about 20% of a multi-year, Japanese-like adjustment
has [so far] occurred for the American consumer..."

Keeping tabs on Davos...

MarketWatch.com:Davos defines 'optimism' downward
DAVOS, Switzerland (MarketWatch) --
Optimism is an apparently relative concept in Davos. ( Read more... )

CNBC: Stephen roach:


( Read more... )