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US Recession Will Dwarf Dotcom Crash

February 6, 2008

The recession facing the United States is of a scale that dwarfs the dotcom slump.

The slowdown will cause a damaging regulation backlash as governments attempt to compensate for the financial pain facing families. Britain faces a similar plight, though it may avoid as deep a slowdown as the US.

The views of Stephen Roach, one of the world’s leading economists, now heading the Asian wing of Morgan Stanley, would have seemed outrageous at last year’s World Economic Forum.

It is a sign of the times that they are now close to the consensus. This year’s event has been dominated by discussions of the stock market slump on both sides of the Atlantic, the Federal Reserve’s emergency interest rate cut and the SocGen fraud disaster.

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Written by admin · Filed Under Coming Economic Collapse 

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