Word: dudley
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...gains in productivity that had been touted as major achievements of the New Economy. Such gains stemmed from spending for technology that allowed a growing number of employees to work faster and smarter--a process that economists call capital deepening. But "as the investment boom goes bust," says William Dudley, chief U.S. economist for Goldman Sachs, "there is going to be less capital per worker, and you will lose that increment in productivity...
...more of that cut kicks in, Berner adds, the economy could grow at a vigorous 4% clip for much of next year. Dudley and Shepherdson are less optimistic, foreseeing growth of no more than 3 1/2% in 2002. "That's not to say that monetary and fiscal policies won't have any effect," Dudley says, "but they're pushing against some pretty powerful forces that are working to constrain economic activity...
...that could prove to be a dangerous game since jobless workers are hardly big spenders. "If you really scare consumers," Dudley says, "then you have this whole downward dynamic of job losses leading to lower consumption leading to more job losses." Concurs Shepherdson: "The next stage of getting consumer confidence substantially higher is going to be the struggle against the head wind of rising unemployment...
...much beyond its current 3.4% pace. "The balance of power is shifting away from employees to employers," says Berner, "and we'll see that in terms of pay gains and the kinds of jobs that are available." Any drops in energy costs will also help keep inflation in check. Dudley expects crude-oil prices to fall from $28 a bbl. at present to "the low 20s" this summer, a decline that will deliver "a positive energy shock...
Ellroy lives a quiet life in Kansas City, Kans., with his wife Helen Knode, "whom I love more than my life and would happily die for," and his bullterrier Dudley, which chases female joggers through his neighborhood. After years in a drug and alcohol haze, he takes care of his health, eating well and working out regularly. At 53, he says, he is still "10 years from the top of my game." He travels tirelessly around the world to promote his books as they come out, then returns to his six-bedroom house in Kansas City--to think...