Economist declares economic 'train wreck' in America's future
If you thought last week’s job numbers were bad, take a look at the latest from Morgan Stanley’s chief economist, Richard Berner.
In a research note that’s been making the rounds of economics blogs this week, Berner declares that “America’s long-awaited fiscal train wreck is now under way.”
By “train wreck,” he means out-of-control federal budget deficits that he’s sure will finally drag the economy under — as if we weren’t already feeling badly enough about its shaky state.
“Depending on policy actions taken now and over the next few years, federal deficits will likely average as much as 6 percent of [the gross domestic product] through 2019, contributing to a jump in debt held by the public to as high as 82 percent of GDP by then — a doubling over the next decade,” Berner writes on Morgan Stanley’s online Global Economic Forum.
First the Oracle of Omaha, Warren Buffet predicts "Worst is Yet to come" and now Morgan Stanley predicts a train wreck...
Democrats - Forget what the Republicans say, forget what the TEA Partiers say....
HOW BAD MUST IT BE THAT WARREN BUFFET AND MORGAN STANLEY WILL GO PUBLIC INFORMATION KNOWING OBAMA AND THE DEMOCRATS ARE IN A POSITION TO RUTHLESSLY RETALIATE!
What voice of reason will you listen to before our country is driven over the cliff?
For love of Country, if you are paranoid of Republicans, Conservatives and TEA Partiers, please just assess the information yourself, and reach your own conclusions!
Do you love Obama more than Liberty, Country and Reality?
The Cynical Patriot
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