Another nice cogent bearish article by Steven Roach.
My general takeaway from it is Americans need to re-learn the old fashioned art of actually saving money, so a good multi-year whipping of asset prices is the nature's way of punishing/rebalancing our behaviors (depending, of course, on your level of karmic belief).
Anyway have a nice re-creational day today. I've a little cold and a drive ahead of me, so wish me luck.
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