ECONOMIST PREDICTS BLAH BLAH BLAH: This CNN article says that Morgan Stanley's chief economist in the United States, Stephen Roach, is predicting a worldwide recession due to... super-pneumonia. Oh, and wars and stuff. So far, SARS has accounted for SEVENTY-EIGHT deaths out of the 2,223 confirmed cases, a fatality rate of 3.5%. Not exactly scary, especially when you take into account the fact that most of those fatalities occurred in third-world countries, and that there are probably a great many more people infected who don't even get sick enough to go to the hospital, and thus aren't represented in the total count.

As for wars... well there are always wars going on somewhere. Welcome to planet earth, enjoy your stay. My prediction is that the incremental removal of brutal, oppressive regimes will lead to a global economic boom. I'm not "one of Wall Street's leading economists", but I play one on TV, and I know of at least one Arab country whose prospects are sure looking up.

Interesting how during the recent actual recession, all the economists were telling us not to worry, and to keep buying. Go figure that one out.



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