Word: economisters
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Wednesday's stronger-than-expected data on durable-goods orders (up 3.4% in February, but from a January number that had been revised downward) was a "slim silver lining on the horizon," UniCredit Research economist Harm Bandholz wrote in a note to clients. But, he was quick to point out, "investment and exports continue to plummet." (Read "How to Know When the Economy Is Turning...
...recession has shifted from the consumer to the corporate sector." And it's possible that corporate cutbacks could lead to a relapse among consumers. "The main downside risk probably lies in sharper-than-expected multiplier effects via the dramatic deterioration in the labor market," warned Goldman Sachs economist Jan Hatzius on Monday after predicting that consumer spending would rise for the rest of the year. "Both the weekly and monthly labor market indicators still show an accelerating employment contraction...
When treasury secretary Tim Geithner rolled out his long-awaited plan for buying up toxic mortgage loans and securities on March 23, reaction was split. Financial markets cheered, with the Dow Jones industrial average rocketing 497 points, or 6.8%, on the day. The chattering classes mostly grumbled, with Princeton economist and New York Times columnist Paul Krugman gloomily leading the way: "It fills me with a sense of despair," he wrote of the plan before it was released but after many details had leaked...
...than last year's. But reflecting "the demands of financial aid," says Bates, they make up only 24% of the admitted pool this year, in contrast to 28% last year. "You've always been in an advantaged position to be rich and smart," says Morton Schapiro, a higher-education economist and the president of Williams College, which does not consider financial need in admissions. "Now you're at an even greater advantage." If so, then you can chalk up one more casualty of the financial crisis: diversity on campus...
...Possibly the most enigmatic prime minister Australians have ever elected." -(The Economist...