The economy is generating plenty of jobs -- that's good news.
More Quotes from Bernard Baumohl:
It's fairly safe to say that the trade deficit may have peaked now that oil prices are falling and the U.S. economy is showing signs of slowing down.Bernard Baumohl
The sharp pullback in economic growth during the final three months of 2005 shows the law of gravity has not been repealed. When consumers are burdened with heavy debt loads, rising interest rates, higher energy costs, no personal savings and household income growth that falls below inflation, something had to give. This retrenchment in spending was generally foreseen, though economists weren't sure on the timing and magnitude.
Bernard Baumohl
( TIME.com ) -- Great news Unemployment is up. Wages are stagnant. Hiring by U.S. companies is down for the first time in more than four years. But there might be some help wanted on Wall Street soon, because Friday's unemployment report is the stuff rallies are made of. Just a half hour into the trading day, the Dow was up 175 and the NASDAQ almost 200 (with inflation-fearing bonds whooping it up right alongside them) as investors saw visions of the long season of economic overdrive, interest-rate hikes and neurotic markets drawing to a close. This is the latest sign that the economy is slowing down, and because these are labor numbers, they're going to have particular weight with the Fed, ... This is the kind of news that could take some of the uncertainty out of the markets and get stocks going up again.
Bernard Baumohl
In March and April, interest rates were going up very gradually, and tech investors figured Greenspan would taper off, because this was an election year. Now, the inflation picture is getting worse, and Greenspan is getting serious. And they're feeling the effects of higher interest rates.
Bernard Baumohl
Bond traders are concerned that the economy may be growing too fast, given where we are in the business cycle.
Bernard Baumohl
With borrowing costs on the rise and the wealth effect from real estate assets diminishing, something has to give.
Bernard Baumohl
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