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 BernankeFed 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.
SPIIDERWEB™ Rulz!
Via The Signs.
Labels: Ben Bernanke, Morgan Stanley, recession
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