Word: economists
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Dates: during 1990-1999
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...than in socio-economic reportage (and is unfortunately almost as annoying as those Clinique salespeople at Saks). Of course, The Big One is not a commercial, it's a sermon, and it might be quite effective for some people, but probably not for anyone who's ever read The Economist...
Viewers should not look for a coherent rationale for economic or political reform in this film. If they do, they will miss its true value. Moore is not an economist, nor is he a politician; he does not have the expertise of Martin S. Feldstein or Milton Friedman. Nor is this his goal. When someone in the film suggests he run for President to send a message, Moore himself quipped, "What would be the message--eat out more...
...coherence--they attempt to make meaning of the world on a daily basis. They tell you why Bill Clinton sent a brooch to Monica Lewinsky, what possessed the editors at Boston Magazine to call Professor Henry Louis Gates Jr. "Head Negro in Charge," and how a Harvard economist was lured to Columbia with $300,000. Such ex post facto explanations serve to enhance perceptions of coherence. But if coherence is such a grand objective to pursue, why does it take so much damn work...
...when TIME's panelists analyzed the forces shaping the numbers at a special meeting in New York City, they repeatedly talked of trends and events "unprecedented for modern economic times." Those words from Allen Sinai, chief global economist of Primark Decision Economics, referred specifically to the meltdown of Asian economies. But other tendencies are at least equally striking. They include a reappearance of the word deflation in serious discussions of U.S. prices for the first time in decades, as well as the possibility of a string of American budget surpluses unmatched since the Roaring Twenties--and the beginnings...
Other board members agreed in general but not always in detail. Robert Brusca, chief economist of Nikko Securities Co. International, one of the world's largest brokerages, sees only a nearly invisible rise in unemployment, to 4.7% at year-end, but an uptick in inflation, to a rate of 2.5%, with interest rates on 30-year Treasury bonds climbing to 6.5%, from below 6% in mid-March. In his view, the tight U.S. labor market will give inflation a nudge that the Federal Reserve will try to combat by raising interest rates. (Sinai, in contrast, predicts the Fed will...