COMMENT Dr Doom is back. Henry Kaufman, the legendary chief economist for Salomon Brothers in the 1970s and 1980s, earned his nickname for gloomy (and usually correct) forecasts of higher inflation and interest rates. He turns 80 this year, and gave a speech in Wall Street on Tuesday night.
The timing was perfect. US stocks had just sold off savagely, and Asian markets were about to suffer the same fate. Within hours the selling hit Europe, leaving indices sharply down for the year.
