Word: beene
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Dates: during 2000-2009
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"It's the biggest thing to hit the municipal-bond market in a generation," says Amy Resnick, the editor in chief of The Bond Buyer, which tracks the muni market. "It's clearly been a success as a means of stimulating the economy."
"For municipalities, it's been good, but it raises some political-economy questions," says Vincent Reinhart, a resident scholar at the conservative think tank American Enterprise Institute and a former top Federal Reserve economist. "This might encourage even more expansion of government borrowing."
Thanks in part to these forecasted cuts in spouse-to-spouse gifting, Beemer is predicting a 2.9% drop in holiday retail sales, compared with a 2.7% drop a year ago. "I know some analysts are predicting positive numbers, but I just don't see it working out as well," he...
According to Beemer's research, 51.5% of consumers plan to spend less this year, compared with 40.1% who said they'd cut back a year ago. Retailers have been quick to trumpet how their more manageable inventory levels and smaller staffs will help control costs. But such cuts could backfire...
"Think of a bug hitting a windshield going 60 miles an hour - that was what January was like," says Brennan. "We had been going gangbusters - we had our best year ever [in 2008] and all of a sudden everybody stopped buying."