Labor will start demanding bigger pay increases and will get them.
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Of the 2.7 million jobs lost since employment's peak, roughly a third have been lost to overseas competition, and most if not all of those jobs are not coming back, ... And that trend is going to continue.Mark Zandi
Greenspan should weigh against asset markets in the good times -- just as he works to support them in the difficult times. He's been one-sided in his policies,
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It undermines growth at the same time that it fans inflation.
Mark Zandi
At a minimum, this will hit consumers' pocketbooksand perhaps their confidence. Before Katrina, Goldstein estimated that consumers' annual fuel bills this year would average about 250 more for gasoline and 400 more for home heating oil and natural gas than in 2004. Now he reckons those amounts will go up 30 percent to 75 percent. Costlier energy could adversely affect consumer spending, corporate profits and inflationor all three. We could be reaching a tipping point on consumer psychology, especially when people get their home heating bills, ... Those will be big.
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This Administration is trying to change the whole intellectual basis for fiscal policy that Alan Greenspan enforced when deficits were large in the early 1990s. We got fiscal discipline through the idea that deficits matter. That's been flipped on its head.
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It would undermine the housing market, and could quickly result in credit problems that would affect the entire (American) financial system.
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Based on Topics: Labor QuotesI was on this bridge overlooking the carpet... I think it went all the way back to Oregon.
Steven Cojocaru
It is true that the Chinese are not so religious as the Hindus, or even as the Japanese; and they are certainly not so religious as the Christian missionaries desire them to be.
Hu Shih
Of all human powers operating on the affairs of mankind, none is greater than that of competition.
Henry Clay