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...chief economist. Although shoppers will continue to be "frugal," - yes, even she expects it - retailers will benefit from leaner, smarter inventories and a year and a half of pent-up consumer demand, Wells says. Retailers should also reap the benefits of low inflation and a slowly improving housing market, she says. (See how Americans are spending...
Some analysts compared Toyota's decision to suspend sales of several popular models to Johnson & Johnson's 1982 decision to sweep packages of Tylenol off shelves after some were found to have been criminally tainted with poison after being shipped to stores. Tylenol's market share plunged from 35% to 8%, but it soon recovered, and J&J was applauded for its quick response. But a recall in the car business, with its five-figure price tags, independent dealers, layers of financing and intense competition, is more complex than a packaged-medicine recall. (See the most exciting cars...
...pictures of the stock-market crash...
Americans deserve better. Proposals such as bank taxes and punitive legislation are gimmicks. Banks will simply pass that tax on to their customers. While the stock market plummets with announcements involving banking regulations, in the end so will lending. And unemployment goes unmentioned. Constitutional checks and balances are up for grabs when the president promises a “forceful response” to rulings issued by the Supreme Court of the United States on campaign finance restrictions. There are three branches of government, not one. Presently, the executive branch is being ruled by a demigod who wants control...
...unless Bernanke is an unusually good liar, he is a moderate Republican at heart, a market-based Keynesian who has a lot in common with Obama economists such as Larry Summers or Christina Romer, a pragmatist whose defining political experience before the past couple of years was getting screamed at by antitax activists while serving on a local school board. He's also a longtime inflation dove, and since the crisis began he's shown unprecedented willingness to jam the accelerator. It's true that he talks a fair amount about hitting the brakes someday, but he hasn't even...