Reply #82: For what it's worth, Roach has been this impolite in his weekly

[swag]

missives for quite some time (see for yourself):

http://www.morganstanley.com/GEFdata/digests/digests.html

Sometimes you have had to read between the lines, but he has been preaching the "global imbalances" gospel for a few years now.

I think last week some time, his meme finally became "successful" (in the Susan Blackmore sense): on Thursday the Financial Times devoted columns to the "severe global imbalances" idea, and the very next day Greenspan gave his now famous speech.