Tuesday, November 23rd, 2004
America’s economy headed for the toilet, says Morgan Stanley poobah..
by Warren
According to a high-up at Morgan Stanley, America can’t sustain it’s record deficits, and disaster may be on the horizon. Apparently the credit card debt in the country is just insane, and people are spending a lot of their disposable income just paying off the interest. And the interest rates haven’t been hiked yet, which will eventually have to happen. What that means for Canada isn’t for a dunderhead like me to say, but I’d assume “not good” just about covers it.