Fundamentally, though, it stems from the fact that China will post a 250 billion surplus on its trade with the United States this year and there's simply no sign of that easing any time soon.
More Quotes from Mark Zandi:
As the memory of the tech bust fades, we seem to be getting better and better job growth.Mark Zandi
Housing has peaked. And all indications are that sales will weaken further in the months ahead.
Mark Zandi
It's always a bit difficult to read the economic data in the winter, just because activity is thinner, and the vagaries of weather are more pronounced. So it's not unusual to see, although this is an extraordinary amount of volatility.
Mark Zandi
So far, it's weakening, not caving. But it's been a tricky policy to deflate housing, not crater it.
Mark Zandi
Housing, the strongest part of the economy, is still booming, and manufacturing, the weakest part, should gain strength in coming months. Put it all together and it paints a pretty economic picture of solid growth and low inflation.
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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