Economic `Armageddon' predicted - Morgan Stanley

[KurtNYC]

Stephen Roach, the chief economist at investment banking giant Morgan Stanley, has a public reputation for being bearish...

His prediction: America has no better than a 10 percent chance of avoiding economic ``armageddon.''

Press were not allowed into the meetings. But the Herald has obtained a copy of Roach's presentation. A stunned source who was at one meeting said, ``it struck me how extreme he was - much more, it seemed to me, than in public.''

http://business.bostonherald.com/businessNews/view.bg?articleid=55356

No better than 10%?! That is SO reality-based.

[bobbobbins]

1. when is this armageddon due to start?

[izzie]

2. Right after we bomb a few more cities into dust.

We do that so good we would not want to go broke until we get a few more. Thank God Bush is saving us all.

[Walt Starr]

3. Pay off that sliding debt, folks!

IF we're lucky, we have a year tops to get credit cards and ARM's paid off. After that, it's every household for themselves!