Word: lippe
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...scenario foresees a slower decline in U.S. markets, as better economic times in Europe and Asia prompt an orderly departure of foreign money for promising opportunities at home. But this would still reverse the wealth effect and stanch U.S. consumption. No board member dissented from the view expressed by Lipp that debt-fueled consumption and big current account deficits were "a sword of Damocles." Though that danger may not be immediate, Hormats noted, it is probably behind efforts by U.S. Treasury Secretary Robert Rubin and Deputy Secretary Lawrence Summers to push for Europe and Japan to do more for global...
...buying consumer goods on credit--the so-called "wealth effect." But a drop in the Dow Jones index or some other shock could quickly erase those paper gains and choke off the spending boom. So while the Clinton Administration is touting consumption-driven growth, Dresdner Bank's Ernst-Moritz Lipp is critical. "We shouldn't praise as an important development something that is due to an unsustainably low savings rate driven, in turn, by an asset-price bubble," he says...
...relatively robust economy" is how Lipp forecasts Europe's performance in 1999, mainly because European companies "are in one of their strongest positions in the past decade." Moreover, the arrival of Europe's new currency, the euro, will lead to further productivity-enhancing mergers and acquisitions. "What will emerge is a completely integrated corporate sector," gaining momentum in the next few years. But the process may take a decade to complete...
There are no easy answers to the mounting U.S. current account imbalance. The normal strategy would be for Washington to raise interest rates, but that would create a vicious circle: depress the stock market, diminish consumer spending and drive foreign money away. Lipp hopes the threat of a recession would provoke quick agreement among the G-7 countries to cut interest rates and taxes. But Hormats cautioned that in the U.S. there's no prospect of easy accord between Clinton and the Republican Congress on cutting taxes or, even harder, deficit spending. Expect a lot of Washington jawboning this year...
...Income Protection Program (LIPP) assists former Law School students in paying off student loans as long as their salary is not over the established ceiling of $42,500 a year...