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Global Economy Update

by Chris Gilbey at 04:13PM (EST) on August 28, 2005 | Permanent Link | Cosmos

I always enjoy reading Stephen Roach's take on globalization, macro economics and why the world is heading to hell in a handbasket. I was reading his latest posting today - for those who are concerned about where oil prices are headed and its impact on local economies, this is a must read. Of course Stephen Roach is a big supporter of globalization, unlike John Ralston Saul, whose new book I have just bought.

Like the car chases described in Richard McKinnon's posting this is just another take on reality TV in some respects. We are living through the most complex soap opera ever seen, and one that everyone wants to predict the ending for.

Will we hit peak oil in the next three years? Will China go to war over Taiwan? Will the real estate bubble in the US burst or just deflate? Will the US attack Iran next? Watch next week's episode and find out!

Keywords: Roach, economics, China

Technorati Tags: Roach, economics, China

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Re: Global Economy Update

by Richard McKinnon on Sun 28 Aug 2005 05:49 PM EST | Profile | Permanent Link

Big deficits bring big problems. The US has been running a huge deficit for years as a result of tax cuts and the Iraq war. Yet still the Congress spends. Notably on Medicare precriptions and the Transport bill. It has to be paid for. Hence, we are seeing higher interest rates and now the sliding dollar. A lower US dollar automatically mean higher oil and energy prices. Also. It leads foereign central banks and corporations to question their US dollar holdings. Bottom line. Problems ahead.

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