A lot of things have to come together to make my forecast of a slowing current account deficit come true.
More Quotes from Mark Zandi:
The largest source that drove the very strong growth over the last year was this powerful replacement cycle, which is fading, ... The need to replace inventory is over.Mark Zandi
The economy is strong, and if history is a guide it should suggest inflationary pressures should develop, but they haven't. Given the crosscurrents in the economic inflation data, it will difficult for him to be clear-cut.
Mark Zandi
At best, people should prepare for no pay increase and no bonus, something they have been getting a lot of. At worst, they should be thinking they may need to change occupations.
Mark Zandi
Christmas sales are shaping up to be OK.
Mark Zandi
The consequences are more serious. Right now there is zero margin for error. Nothing can go wrong.
Mark Zandi
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