Venkman: Human sacrifice, dogs and cats, living together… mass hysteria!
— from Ghostbusters
It’s like something from Bill Murray’s speech in Ghostbusters: Dogs and cats, living together … economist Stephen Roach turned bullish! From a recent speech by Morgan Stanley’s house perma-bear:
[Economic and policy inputs] now point to a more benign strain of global
rebalancing than I had previously thought.
…No, the world has not been healed of all that ails it. But because
the powers that be have concluded that imbalances still matter, the
urgency of global rebalancing is now center stage in the global
policy arena. Call me less of a pessimist, or even an optimist if
you wish, but that’s the best news I’ve heard in a long time.
Whoa, easy there Steve. I have visions of you skipping down the street while whistling a happy tune, and that just won’t do.