The US could be facing a “lost decade” like that suffered by Japan in the 1990s as the markets fail to respond to interest rate cuts and the US Federal Reserve runs out of options, the head of one of the leading private equity firms said today.
Private equity pioneer says ‘golden age’ will return Jon Moulton: Credit crisis is here to stay
Tim Collins of Ripplewood Holdings, said the Fed was “running out of policy alternatives” as it attempted to prevent a long recession in the US.
Mr Collins, whose firm has significant expertise in Japan after leading the buyout and turnaround of Japan Telecom, said he believed a “sharp repricing of assets” was the most likely outcome.
But he said: “My fear is that we will prolong it and suffer a death of a thousand cuts after we have exhausted all the options.”
Starring a drunken coke-head turned international “liberator”, The Lost Decade : The Bush Years tracks a slightly-more-than-middle-aged protagonist on a world-wide journey as he turns everything he touches to crap.
You didn’t think it was possible he could lead the U.S. into two recessions in a decade all the while raping the environment and scoring record profits for Big Oil and Big Money, but you were wrong.
You didn’t think it was possible that the mighty mighty U.S. dollar would be worth less than a Canadian loony.
You didn’t think he would be able to sell a war of choice on fear and b.s. either, but we all know how good your judgment is, Americanos.
Not my fault, I voted for Kodos.