The five day Davos meetging, held annualy in Switzerland, is THe meeting for the Rich and Powerful.I was taken by this quote from Stephen Roach, then Morgan Stanley’s chief economist, who now is chairman of Morgan Stanley Asia Ltd. “A sharp decline in housing prices could have a tremendous impact on the global economy; in the U.S. alone, 40 percent of new jobs since 2001 have been related to the housing sector. With low interest rates and excess liquidity, other bubbles may follow,” If the corralary is true, then we could be looking at more job loss than currently predicted.Here is the vull article inThe Bloomberg.com: Exclusive
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