U.S. economy: adjustment has begun

Morgan Stanley chief economist Stephen Roach (Stephen Roach) once again expressed his pessimism on the U.S. economy is expected. In his view, in 2007 the U.S. economy may be very surprised that a crisis or recession will be. "This (downturn in the U.S. economy) from the beginning of the real estate market." Roach said Mr. Greenspan as early as four months ago had said that real estate prices have reached the bottom, but in fact it continued to fall. The real estate market, including residential, industrial plant construction, real estate brokerage firm, and other related industries, the United States is in fact a great source of new jobs, while the housing market will bring down the U.S. job market and income growth of a great Impact. Merrill Lynch Asia Pacific chief economist Timothy Jomes Bond also of the view that the U.S. real estate market slowing down, consumer confidence declined in the U.S. economy will lead to a slowdown in 2007. This will lead to the goal of the U.S. Federal Reserve monetary policy changes, "we will not see the Fed raising interest rates further, but will cut interest rates." Former Morgan Stanley economist Andy Xie, chief Asia-Pacific region talking about the U.S. economy that "next year can stay in the past, but I think 2008 will be very difficult, in 2008 the world economy as a whole is likely to appear tough ups and downs, the main reason The United States is far from the real estate adjustment in the end.