Word: economisters
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...into law by President Barack Obama. In the U.S., despite all the talk about shovel-ready construction projects, only about $100 billion of the $787 billion in stimulus spending will go toward new infrastructure this year. Another $282 billion goes to tax cuts or rebates, much of which, as economist Nouriel Roubini argues, will most likely be saved, not spent. A big chunk of the rest of the package will go, via the states, toward social services: increased unemployment benefits, more money for food stamps and for health-care spending for the poor and the elderly...
...implications for foreclosures. As house prices continue to decline and more people find themselves paying mortgages above the value of their properties, the risk increases that they'll start walking away in droves. But "you have to be very careful in jumping to conclusions," says First American chief economist Mark Fleming. "Just because your house is worth less than your outstanding mortgage doesn't mean you're going to go into foreclosure or anything like that." Even for people awash in debt, homes are still places to live. If prices are given enough time to recover, they might still...
...Economist Nouriel Roubini, chairman of New York City - based research firm RGE Monitor, earned the nickname "Dr. Doom" by warning as early as 2005 that America's speculative housing boom could trigger an economic crisis. At the time, he was dismissed by many as a perpetual pessimist. Today, he's a sought-after analyst and a popular guest on financial-news programs and websites - and he's as gloomy as ever. Over breakfast in Hong Kong recently, the New York University professor talked with TIME's Michael Schuman about the perils that lie ahead if governments do not do more...
...Read a Q&A with economist Nouriel Roubini...
...that reason, economist Touati says it's virtually impossible to make any credible market forecasts until investors and traders swap panicked reaction for their usual economic analysis and anticipation. When might that happen? Possibly sometime between spring and early summer, when the first signs of modestly positive economic data is expected...