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Bernard Madoff, convicted of running an $65 billion Ponzi scheme, was sentenced to 150 years in jail. What’s your take on his punishment?
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Joseph Quinlan, a managing director and the chief market strategist of Bank of America, Global Wealth and Investment Management, joined the firm in June 2003. Quinlan is a leading expert on global capital flows and the transatlantic economy. He has been a senior transatlantic fellow (nonresident) at The German Marshall Fund in Brussels, Belgium, since 2003. His research there centers on regional and global trade and investment flows. As a fellow, he regularly briefs congressional leaders on global economic/financial affairs and has testified before the European Parliament.If the U.S. economy coughs this year, will the global economy catch a cold? Probably not. While global growth once depended heavily on the U.S. shopper, the rise of consumer classes from Africa to Asia are now the engine of the world's economy. While there may be some cooling off, those developing economies are likely to keep spending, even if U.S. consumers close their wallets.
"While we don't subscribe to the 'de-coupling' thesis, whereby the developing nations stand immune to a U.S. economic slowdown, we nevertheless believe that the developing nations have become legitimate and important growth engines for the global economy," writes Joseph Quinlan, the chief market strategist for Bank of America's Investment Strategy Group. "In 2008, the developing nations will shoulder the global economic burden, helping the world to avoid a serious downturn."
While Quinlan is relatively confident in that outcome, he warns that the global economy is weakening some and that there are numerous threats to growth that could make things far worse. Weaker than expected growth in the United States and Europe; higher interest rates triggered by global inflation and a "hard landing" in China are just some of the key threats he cautions people to watch for.
POSTED BY: madmilker (January 17, 2008 08:36 PM)
Dang! This is get'n to be hilarious to red...oops! read these articles from so-call expects and at the same time look at their company's one year return on investments....duh!
A pea farmer in Alabama could tell you that any nation that has fed off of the United States of America the past 25 years is better off now. Why didn't the so-call smart people write bout this 31 months ago when the US went into a recession? Now there is gonna be more than just a hard landing...!! Congress is flying by the seat of their pants into a blizzard.
POSTED BY: vikas (February 04, 2008 03:41 PM)
The emergence of powerful new players like China, Russia and Brazil is creating a multi-polar world.
How can you miss India ?
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