Word: primark
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...when TIME's panelists analyzed the forces shaping the numbers at a special meeting in New York City, they repeatedly talked of trends and events "unprecedented for modern economic times." Those words from Allen Sinai, chief global economist of Primark Decision Economics, referred specifically to the meltdown of Asian economies. But other tendencies are at least equally striking. They include a reappearance of the word deflation in serious discussions of U.S. prices for the first time in decades, as well as the possibility of a string of American budget surpluses unmatched since the Roaring Twenties--and the beginnings...
...market. Old ones are modified or disappear. The market basket of today is totally different from that of a generation ago." There is a gold lining of sorts. The overstated inflation rate has kept interest rates unduly high because lenders account for inflation in setting rates. Allen Sinai of Primark Decision Economics believes that even with the changes, the CPI may be a full point too high. "Effectively, there is no inflation," he says. Now the government is making it official...
...Fundamentally, the economy is in remarkable shape," says Martin Zimmerman, director of corporate economics for Ford Motor Co. Allen Sinai, chief global economist of Primark Decision Economics, goes further: "It's terrific. Having a combination of good times on Main Street and Wall Street for so long is rare. This may be the only time in history...
...invest in Japan? There's virtually no growth. Bank lending is contracting, and jobs are scarce. The greater Asia slowdown promises to deepen Japan's woes. "This is a catastrophe," says Carl Weinberg at High Frequency Economics. At a conference with senior Japanese executives, notes Allen Sinai of Primark Decision Economics, "I was absolutely flabbergasted by the pessimism." Picking market bottoms is never easy. When they occur, pessimism and words like catastrophe are usually in evidence, as is some element of resolve. It's all there in Japan today. The question isn't whether things will get worse but whether...
...easy to swallow and lends credibility to the wisdom of staying happy and staying in stocks or, as the little guy did Tuesday, buying even more. "There is no reason to think the U.S. stock market is going to go into a bear market," says economist Allen Sinai at Primark Decision Economics. "The U.S. economy is not going to be knocked down by the crisis in Asia...