Word: slowdown
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Washington is all agog over the idea of tax cuts, but working families in Chillicothe, Ohio--prime targets of the Democratic and Republican propaganda offensives--aren't tuning in. They're too busy coping with the economic slowdown to pay much attention to the politicians. And though people in Chillicothe would welcome a tax cut, even if its benefits tilt to the wealthy--and agree with George W. Bush that it could help nudge the economy back on track--they don't expect his plan to have much effect on their paychecks...
...Europe. "Everything we look at that tells us where the economy is going to be in six months in the U.S. started to roll over in June, July and August," said Courtis. "In October, November and December, they started rolling over in Europe." He predicted a significant Continental slowdown in the second quarter, with the European central bank waiting too long to cut rates. "They are going to get caught behind the curve," he warned...
...even if you doubt Lipp's 3.5% prediction, there's reason to think the Continent will handle a slowdown with relative grace. "Europe won't have the same kind of adjustment pressures that we have in the U.S.," said Hormats. That's because Europeans, in contrast to debt-addicted Americans, are light on stock investments and still have substantial savings they can tap during lean times...
...billion tax cut, which could drain money from health care and education. Swift's opponents, such as State Senate President Thomas F. Birmingham '72 (D.-Chelsea), have noted that the tax cut may work in a fair-weather economy but could have serious repercussions in the forecasted slowdown...
...stressed-out folks at Xerox, fresh bagels no longer grace morning meetings. A Xerox manager asked his group to limit, of all things, the number of copies by using both sides of the paper. Which suggests that along with the losers in the current slowdown, there may be one unexpected winner--trees...