The overvalued dollar will contribute mightily to the US trade deficit until the Bush administration takes decisive action.
More Quotes from Peter Morici:
Stagflation is rearing its ugly head, ... Slower consumer spending and disappointing business investment are causing slower growth, high unemployment and wages that lag inflation.Peter Morici
The public is simply not as sympathetic to union causes today as it was 30 years ago, and that's a big problem.
Peter Morici
The retail sector is enjoying a decent but unexceptional holiday shopping season.
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With the exception of the July burst in auto sales, retail sales growth has been weak in recent months because consumers are now strapped.
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GM cannot go on providing the level of benefits they have been, if they want to stay in the business. It's not a matter of providing fewer benefits to increase profits, it's a matter of choosing to pay benefits it can afford, or getting to a place where it cannot pay anything at all.
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These employment gains indicate strong first-quarter economic growth, in the range of 4 percent.
Peter Morici
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