Word: economist
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Dates: during 1990-1999
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...believer is economist Paul Boltz at T. Rowe Price, who notes that in the past 15 years the U.S. has been in recession only eight months, a growth line like no other. "What we are living through is astonishing," he says. So go ahead and pinch yourself. It isn't a dream. If you've been in the market for three years, yes, Virginia, you've doubled your money. So, even though we don't know how long this will last, the best course may be simply to stay in stocks, particularly if you have 15 or more years until...
...goal of zero inflation. Today those jeers have melted to mild sarcasm. ALL HAIL SAINT ALAN, read buttons distributed by Bert Ely, an economic consultant who contends Greenspan is getting undeserved credit for the happy state of the U.S. economy. But to admirers, Greenspan is a monetary wizard. Says economist Allen Sinai: "The Greenspan Fed is the all-time champion in American history...
...Fundamentally, the economy is in remarkable shape," says Martin Zimmerman, director of corporate economics for Ford Motor Co. Allen Sinai, chief global economist of Primark Decision Economics, goes further: "It's terrific. Having a combination of good times on Main Street and Wall Street for so long is rare. This may be the only time in history...
Even so, board members agree that forecasts of U.S. output next year need to be lowered half a percentage point or so. Post-Asia, Carl Weinberg, chief international economist of High Frequency Economics, a market and economic analytical firm, foresees a 2.5% rise in gross domestic product, down from 3.6% this year but near the pace many economists think can be sustained year after year. He expects inflation to creep up--but from only...
...could get pushed into depression by the financial crises in Southeast Asia, which gets nearly 40% of all Japanese exports. More alarming, roughly one-third of all loans in Southeast Asia--many now in default--came from fragile Japanese financial institutions. Says University of Chicago political economist Marvin Zonis: "To raise needed liquidity, they might sell their holdings of Treasury securities." Since Japan owns more U.S. Treasury debt than any other nation (more than $300 billion), a sell-off would cause U.S. interest rates to climb, which would bludgeon stock prices and endanger America's economic expansion. The yen could...