Word: economists
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...everyone is convinced the DPJ can do that. Masaaki Kanno, chief economist at JPMorgan Securities in Tokyo, is skeptical that cutting wasteful spending and finding hidden reserves will compensate for growing expenditures; social security, for example, will need to expand by up to 1.5 trillion yen annually. "Within two years, the DPJ will have to show people a consistent way to finance additional spending," he says. "[The need for growth] has nothing to do with political ideologies. It's the reality of economic equations...
...Some argue that overtightening is not the fundamental problem, however. Former Morgan Stanley star analyst Andy Xie, now an independent economist, questions the quality of China's recent growth. "The present economic 'recovery' began in February as inventories were restocked and was pushed up by the spillover from the asset-market revival," he contends in a recent opinion piece in Hong Kong's South China Morning Post newspaper. "These two factors cannot be sustained beyond the third quarter...
...another example take, well, Dean Baker. He and his wife sold their condo in Washington in the spring of 2004 and started renting. The cost of a house relative to a typical apartment rent had doubled in four years - you didn't have to be an economist to notice. That spread has narrowed substantially, but by Baker's calculations, there's more to go. Yet that didn't stop him from buying a couple of months ago. "We got an interest rate at the absolute bottom," he says, "and we wanted outdoor space...
Edmund Phelps, a Nobel Prize - winning economist at Columbia University, thinks people should take something else into consideration: Do you really want the bulk of your wealth tied up in a single asset? As we've been reminded, real estate carries risks just like any other investment...
...difference is the Liberal Democrats' spending on public projects and infrastructure, but the Democrats spend on family and education," said Martin Schulz, a senior economist at the Fujitsu Research Institute...