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Joshua A. Kaufman '98 is a social studies concentrator in Dunster House. His column appears on alternate Thursdays...
...question is how badly these forecasts may be knocked askew by the ongoing Asian economic tempest. Henry Kaufman, one of Wall Street's most respected financial analysts, wryly notes that economists most often "forecast usual events because we all have experience" with them. But the Asian breakdown is far outside that experience. "We've gone over 60 years since we've had this kind of a massive disruption...
...which is at last increasing workers' real wages without pushing up prices, and government policies that Sinai pronounces "eerily" wise. Most important, of course, is the swing from gargantuan budget deficits in the 1980s and early '90s to an expected small surplus this fiscal year, with more to come. Kaufman notes a continuing boom in business investments and a new surge in housing--both "very unusual" for an expansion going into its eighth year. One reason: builders of factories and houses can borrow more easily, because the government no longer is gobbling up so much of the available credit...
Joshua A. Kaufman '98 is a social studies concentrator in Dunster House. His column appears on alternate Thursdays...
There has been a disturbing trend in recent articles on this page--from Beth Stewart's detailing her unconscionable agenda (Feb. 3), to Tom Cotton's cheering selfishness, apathy and shortsightedness (Column, Feb. 18) to Josh Kaufman's describing our campus as appropriately the training ground of the social elite (Column, Feb. 20), columnists have been embracing the ivory tower we call home...