When consumers shift their income stream from purchases to saving, it slows GDP, and that's a long-term process, ... I think interest rates are going to remain very low for a couple of years.
More Quotes from Lacy Hunt:
When we came out of the recession in March of 1991, GDP started rising very feebly, while the unemployment rate continued rising for another year and a half, ... The press called it a 'jobless recovery,' and it was one of the reasons President Bill Clinton was able to defeat former President George Bush. The average person on the street judges the economy by the job market.Lacy Hunt
Powerful restraining forces are impacting the consumer, and this will result in slower growth in the latter part of this year and into 2005,
Lacy Hunt
The ratio of corporate debt to gross domestic product (GDP) is at an all-time high, ... And we don't know exactly what corporate debt is because so much has been parked off the balance sheet and hidden. But, even without knowing what the off-balance-sheet debt is, corporations have too much.
Lacy Hunt
The country is entering a period of debt deflation, where households and businesses are forced to move funds from spending to debt repayment. This forces down economic growth and reduces inflationary pressures and long-term interest rates.
Lacy Hunt
This economy is not producing jobs in a normal way. We have serious global competitive pressures working on the economy. There continues to be a very rapid increase in productivity, which is undermining demand for labor.
Lacy Hunt
The Fed was given control of margin lending in response to the excess speculation in the 1920s,
Lacy Hunt
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