The trade deficit is going to keep growing.
More Quotes from Peter Morici:
Even in North America, (Toyota's) factory labor costs are lower because it pays a bit less for labor and is not encumbered by excessive benefit costs.Peter Morici
Stagflation is rearing its ugly head, ... Slower consumer spending and disappointing business investment are causing slower growth, high unemployment and wages that lag inflation.
Peter Morici
Clearly, inflation poses no real threat, but overly aggressive Fed interest-rate policy could torpedo the economic expansion.
Peter Morici
The debt limit will be raised no one expects otherwise. The problem here is Congress reconvenes around mid-January, and it isn't a lot of time they have to get this done. But they'll get it done.
Peter Morici
It's not just the number of jobs, it's the quality of jobs.
Peter Morici
China's purchases of dollars create a 33 percent subsidy on its exports, and are having a devastating effect on U.S. workers with only a high school education or only some college or technical training, ... Were foreign governments to stop manipulating currency markets, the trade deficit would be cut in half. (That) would increase GDP growth to about 5 percent a year and create as many as five million additional new jobs over the next three years.
Peter Morici
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America has global trade with plenty of nations that provide inexpensive labor, but it's better for us when they're in our own hemisphere, rather than sending that business halfway around the world.Ernest Istook
Be yourself. Follow your instincts. Success depends, at least in part, on the ability to "carry it off."
Donald Rumsfeld
Science has not solved problems, only shifted the points of problems.
Charles Henry Parkhurst