Morgan Stanley's Stephen Roach, seen by some as a nearly perma bear, but by others as very realistic visited CNBC this morning, and offers his latest views on what is happening. Essentially, as written in these pages a few years ago, the U.S. is going through a Japan-lite crisis. Much of it due to Fed policy. Half the discussion on that topic, and about half on China.
13 minute video - email readers will need to come to site to view
Here is a link to a follow up discussion on Europe - 4 minutes.