Word: eickhoff
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...troops, but I am more concerned about the morale of those who will spend the rest of their lives dealing with the horrors of war. The suffering on both sides will continue long after the last shot is fired. Thanks to McCoy for telling it like it is. JILL EICKHOFF BASHORE Durham...
Even if they are not planning to sell, homeowners feel poorer when values drop. "The price of your house was your standard of value in the 1970s," says Kathryn Eickhoff, president of her own economics-research firm in New York. "You couldn't make money in the stock market, but you knew your house would go up in value. But now that confidence is being tested, and people feel vulnerable...
...year-long Reagan recovery limps through 1990, credit contraction and stagflation will leave many casualties. The most exposed sector is corporate America, particularly its most leveraged members. The Bush budget assumes that pretax corporate profits this year will rise almost 20%, to $360 billion. But forecasters like M. Kathryn Eickhoff, a former colleague of Greenspan's, think profits will stagnate at best. Says she: "These conditions will mean a real squeeze on the restructuring plans of highly leveraged companies." The net effect: many highly leveraged firms will find it difficult to make their interest payments...
Another threat is a shortage of labor, which could push wages higher. In October the unemployment rate fell to 5.9%, the lowest level this decade. Notes Kathryn Eickhoff, former staff economist of the Office of Management and Budget and now a private consultant: "We are approaching a full-employment economy for both labor and capacity in industry. This is the type of combination that usually leads to price increases...
Nonetheless, it will probably be early next year before business again picks up even moderately. Says New York Business Consultant Kathryn Eickhoff: "The economy has moved from a state of disaster to just terrible." Warns Otto Eckstein, president of Data Resources: "It would be the extreme of irresponsibility and the worst economic policy since the 1930s Depression to let taxes increase at the rate planned." And alongside the conservative tax cutters stood Liberal Walter W. Heller, President Kennedy's chief economic adviser, who called for a reduction of $30 billion. Said he of the fears of renewed inflation: "That...