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Roach: Double Dip Recession Now 40% Likely

Watch Roach: Double Dip Recession Now 40% Likely

Morgan Stanley's Steven Roach thinks it's pretty unfair of politicians to be putting so much blame on banks alone for the financial crisis, as if to forget the role ratings agencies and government itself. Moreover, he also thinks a double dip recession is pretty likely:

Starting at 2:00:

  • "The banks didn't do it alone [the crisis]... there was a shared responsibility... yes even from the brilliant political overseers, who now feel they have the keys to the post-crisis kingdom."
  • "There are many stiff headwinds that are going to restrain the global expansion over the next few years..."
  • "I think global growth is going to be anemic and I'd put a 40 percent chance on a double dip at some point in the next couple of years."
Video Here



Disclosure: No Positions

Disclosure: No Positions