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
power time history war iraq economy washington modern
Mine didn't even rhyme,.. But I loved him. He was a great man. I miss him. Put that in, will you.
man rhyme great
Sound the alarm, it's Allan McMahon!
sound
Once viewed as an unparalleled opportunity, the Chinese miracle is now being viewed as a threat by both the U.S. And Japan.
opportunity chinese miracle japan threat
With global trade screeching to such a standstill, so, too, should the external demand contributions of most major economies around the world
world global demand trade
By staying disciplined with regard to inflationary policy, the Fed nips any inflationary expectations in the bud.
expectations
As the prospects of a full-blown oil shock rise, the prospects of outright global recession in 2005 loom more and more likely.
global shock oil recession rise
In my view, the perils of another burst asset bubble far outweigh the costs of another recession
recession view
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.
strength data fall weather flow normal return view
[Inflation] is starting to broaden out; it's starting to move up a little bit,.. The Fed certainly has to be concerned about that.
starting
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