Roach on US economy, Fed policy and China

Stephen Roach, a senior fellow at Yale University and former non-executive chairman for Morgan Stanley in Asia, offers some cogent thoughts on Federal Reserve policy, the U.S. economy and the Federal budget. He also speaks about China. He has been a well known China bull for many years and offers his front line views from years on the ground there assessing the Chinese economy. That said, the utility of Chinese Permabulls has been nil from an equity investment perspective as Chinese stocks today are -7% ytd and a full -63% since 2007. Another case of a good story being a horrible investment if bought at too high a price. Here is a direct link.