And then there's economist Stephen Roach, the Morgan Stanley bear every bull loves to gore.
Stephen Roach, an economist at Morgan Stanley, thinks it could soon fall much more rapidly.
Stephen Roach pointed out that the United States has trade deficits with 90 countries around the world.
But as so often, economist Stephen Roach saw where the crowd was going and went the other way.
Stephen Roach, chief economist at Morgan Stanley, warns that future trouble may well come from a different quarter.
This is either an indicator of coming inflation or, says Stephen Roach of Morgan Stanley, a terrific buy signal for bonds.
Stephen Roach, the chief economist of Morgan Stanley, an American investment bank, recently took 15 fund managers on a tour of China.
In this space exactly a year ago I poked fun at Morgan Stanley Asia Chairman Stephen Roach's long-standing bearishness on the American economy.
And then there's economist Stephen Roach, the Morgan Stanley (nyse: MS - news - people ) bear every bull loves to gore.
"Courtesy of a world worried about global terrorism, you have the equivalent of a tax on cross-border connectivity, " says Stephen Roach, chief economist at Morgan Stanley.
Foreign firms investing in China do so partly to tap its growing consumer market, but overwhelmingly to produce for export, according to Morgan Stanley chief economist Stephen Roach.
"Courtesy of a world worried about global terrorism, you have the equivalent of a tax on cross-border connectivity, " says Stephen Roach, chief economist at Morgan Stanley in New York.
Stephen Roach, also of Morgan Stanley and a well-known contrarian, points out that less than a third of the run-up in construction spending over the past decade has been reversed.
Stephen Roach, chief economist of Morgan Stanley Dean Witter, thinks this in turn will boost the interest-sensitive areas of the economy, such as capital investment, consumer durables and home building.
"In a postbubble world 'Buy America' is suddenly seen as a risky alternative, " says Stephen Roach , the Morgan Stanley (nyse: MWD - news - people ) economist.
In a recent note to clients, Stephen Roach, an economist with Morgan Stanley Dean Witter, reiterated his view that China, not Japan, will be the engine of Asian growth in this century.
In this space exactly a year ago I poked fun at Morgan Stanley (nyse: MS - news - people ) Asia Chairman Stephen Roach's long-standing bearishness on the American economy.
Meanwhile Stephen Roach, an economist at Morgan Stanley, worries that, even if the Fed prints masses of money, in a deflationary environment overindebted households may choose to save rather than spend the cash.
As Stephen Roach of Morgan Stanley Dean Witter points out, every economic expansion since the second world war has had at least one quarter of growth below 1% which did not become a serious downturn.
ECONOMIST: Is America��s economy too hot, too cold, or just right?
Stephen Roach, chief global economist at Morgan Stanley, argues that China's economy is now simply too large having grown so rapidly in the past couple of years for microeconomic measures such as investment restrictions in specific industries to work.
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