Stephen Roach

I doubt we are going to see wide scale debt forgiveness until defaults and debt deflation have taken center stage. But this is something to consider as it was an approach used during the Great Depression.

The over-indebted American consumer will be hard pressed to simultaneously reduce debt and maintain levels of consumption that support economic growth. On CNBC today, Stephen Roach of Morgan Stanley says, we need a debt jubilee for…

Separately, both Nouriel Roubini and Stephen Roach, two leading American economists with differing views on the Chinese domestic economy have pointed out the concern China has with the dysfunctional US political system. Increasingly, the…

Rather than adding stimulus with the aim of goosing demand to help the economy reach escape velocity, I would say that the central objective of economic policy is to help the economy reach full employment. Doing so will increase demand,…

Roach talks to Bloomberg's Carol Massar about the risks to an economy operating at stall speed as well as Federal Reserve monetary policy and economic lessons from Japan's lost decades. He thinks a recessionary relapse is more likely than…

I don't think people realize that the Chinese have just made a rather sizable shift in economic policy. The Chinese are moving on multiple fronts now toward a new economic paradigm that includes slower growth but more domestic consumption.…

On the back of 10+% growth in 2010, it is now apparent that China has a burgeoning inflation problem. A whole confluence of factors may come into play here. A labour shortage in China, food price inflation, and out of control money supply…

Over the past several days, I have caught some very good commentary by a number of well-known financial industry experts. I wanted to share my own thoughts with you on their commentary, especially in light of my last posts on Eisenhower's…

CNBC has a lot of good guests on this week. Here's another clip from earlier today. This time it's Stephen Roach talking about asymmetric monetary policy and financial bubbles. Roach believes the Fed needs to entirely rethink its policy…

Stephen Roach argues that the U.S. is not equipped to turn the Fed's liquidity into domestic demand so the liquidity provided by quantitative easing will simply leak out abroad to form asset bubbles somewhere else. He is principally…