Four months ago, I dared to pen my first constructive piece on the global macro outlook in years (see my 1 May dispatch, "World on the Mend"). Yet recently, I have warned of the mounting downside risks to world economic growth in 2007 (see my 14 August dispatch, "Not Much Fizz Left in the Global Economy"). How do I reconcile these seemingly contradictory points of view?
More intellectual confusion at the link. I do sympathize with Roach, he was bearish for a very long time, and suffered for being outside the consensus, but now he's trying to have it both ways and the incoherence has shown in his writing as of late. It lacks its usually clairty and crispness.