MORGAN STANLEY: ‘The Global Economy Has Sunk Deeper Into The Twilight Zone’
Aug. 16, 2012
Morgan Stanley’s Joachim Fels and the rest of the The Global Macro Analyst team have cut their global growth forecast in a note dramatically titled Into The Twilight Zone.
The gist is that everyone in the world is struggling right now.
Emerging markets, which used to keep growing solidly during times of slowdown, are sputtering. And developed markets keep shooting themselves in the foot.
The global economy has sunk deeper into the twilight zone that divides sustainable recovery from renewed recession. We have sharply cut our growth forecasts (in many cases, again) for most countries and regions around the globe over the past three weeks.