136 ordspråk av Paul Kasriel
Paul Kasriel
measure of the financial deficit that households are running at an annualized rate.
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Nobody wants a strong currency, and since the U.S. currency is fundamentally weak, foreign central banks need to buy up dollars to keep their currency from appreciating.
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Not surprisingly, we're starting to see weakening demand.
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Nothing seems to be going quite right. We're not seeing mass defections. The weather has been bad. Frustrations are starting to build that this might be going into a less antiseptic phase.
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Now, of course, a lot of it ... was in auto sales and production is probably going to flatten out in the months ahead.
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O'Neill was like the offensive line of the Green Bay Packers playing in a dome -- they can't hear signals. O'Neill couldn't hear the signals the White House was sending, and they got rid of him. Presumably, Snow has better hearing.
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Oddly enough, corporations are lending to the government sector and to the household sector to finance our spending. That's not really a good mix. What leads to growth for our economy is business investment.
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OPEC doesn't suffer from money illusion. It decided they want an honest dollar for an honest barrel of oil.
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People need to reload here -- they can't buy a car every month. But don't fret, because we're going to get a big tax refund next year, and that will cause spending to pick back up.
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Rising bond yields would hurt the housing market. Unless incomes pick up to offset higher financing, you're going to have a problem.
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Since central banks aren't letting their currencies appreciate against the dollar, that implies that all the currencies will depreciate against gold and commodities in general.
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Sustained economic growth is dependent on profit growth. Without profits, there will be no new hiring of workers and no new capital spending.
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That, plus the fact that the Bank of Japan won't be buying as many Treasury and agency securities, will put upward pressure on rates.
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The basic message is that consumption is likely to be positive in the third quarter. We're looking at most likely another quarter of relatively modest consumer spending, but positive nonetheless.
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The creation of credit by the Fed, just like the scrip printed by a counterfeiter, does not result in the increased supply of energy.
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