WHAT A MASTER OF THE UNIVERSE RECOMMENDS

Stephen Roach, chairman of Morgan Stanley Asia, writing in the Financial Times, thinks the current economic problem will be solved by the Free Market Fairy: "the only sensible way out is to let markets lead the way." That this "solution" involves recession, " asset deflation and rising unemployment" doesn't seem to trouble this Master. Even more curious, he seems to think that Americans will be able to return to income-based savings when the last 6 years have demonstrated that GOP economic policies simply don't create those kind of opportunities for the vast majority of Americans.