Desmond Lachman Quotations

There are very strong winds of change blowing through the continent of Latin America and they seem to be in somewhat of a left-ward direction.

My expectation is that we will see countries lapsing back to some sort of controls on trade, on capital, which isn't going to be too healthy for the global economy.

I think what's very disturbing about the present crisis is that there are a number of things going on at the same time, all of which aren't very good. We've got the Japanese yen going to eight-year lows, we've got talk about devaluation in China, we've got Hong Kong coming under attack and we've got a number of other Asian economies just showing incredible signs of weakness.

There's just a huge amount of money sloshing around looking for a place to go.

This plays very well politically in those countries. Prepaying the IMF is declaring independence.