Tag Archives: Stephen Roach

The U.S. caused the 1930s deflationary depression and is again the cause of the current contraction. Although similarities exist between the two, the differences between them insure a far more consequential outcome today than in the 1930s. [Indeed, the world] now finds itself on the edge of a growing deflationary sinkhole created by the sequential collapse of two large U.S. bubbles, the dot.com and U.S. real estate bubbles. Words: 1549

A survey of US hedge fund managers by London-based Moonraker Fund Management: 90 percent (20 of the 22) of the hedge fund managers surveyed admitted they had bought physical gold for personal investment. These sophisticated investors know something that the average investor doesn’t: that the global policy response to the financial crisis will not only devalue the world’s major currencies, it will decimate the US dollar. Words: 2233