Tuesday, December 11, 2007

Morgan Stanley issues full US recession alert

This can't be good for anyone. Not just in the US, but world-wide.
Morgan Stanley has issued a full recession alert for the US economy, warning of a sharp slowdown in business investment and a "perfect storm" for consumers as the housing slump spreads. Federal Reserve chairman Ben Bernanke Fed chairman Ben Bernanke [duplication in original - ed] will be hoping he can keep the US economy from recession In a report "Recession Coming" released today, the bank's US team said the credit crunch had started to inflict serious damage on US companies. [emphasis mine]

What I find particularly interesting is Morgan Stanley's emphasis on consumers and Ben Bernanke's concern for companies.

It sort of shows where their loyalties lie.


Via The Signs.

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