[lbo-talk] Stephen Roach worries, again

Carl Remick carlremick at hotmail.com
Fri Mar 18 14:01:00 PST 2005



>From: Doug Henwood <dhenwood at panix.com>
>
><http://www.morganstanley.com/GEFdata/digests/latest-digest.htm>
>
>Mar 18, 2005
>
>Global: America Smells the Coffee
>
>Stephen Roach (from Beijing)
>
>... For once, call me an optimist. It's time for America to smell the
>coffee.

A cockeyed optimist at that. Stephen Roach as Ensign Nellie Forbush -- who'da thunk it? "Smelling the coffee" is way too reminiscent of Reagan's fatuous "Morning in America." If Americans take a deep sniff, what they will smell is economic putrefaction. A better take on the US's hopeless plight is offered by a recent Paul Craig Roberts piece, "Outscourcing Innovation ... And Everything Else: America's Has-Been Economy" -- <http://www.counterpunch.org/roberts03162005.html>

Carl



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