Word: slowdowns
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Even before he was declared President-elect, George W. Bush had become bear in chief. For weeks he's been warning that the U.S. economy is in for hard times. He may steer clear himself of the term recession. "Possible slowdown" is one way he puts it. But dirty work is what Vice Presidents are for. So Dick Cheney has been sent out to say the forbidden word. As early as Dec. 3, he was on Meet the Press warning that the nation "may well be on the front edge of a recession...
Then again, he and Cheney are just enlarging on what everybody is already thinking--that even if we can avoid a real recession, meaning two consecutive quarters in which the economy shrinks, a slowdown in the rapid growth of the '90s is plainly in store. The dwindling NASDAQ says it all. If those sputtering dotcoms are the economic engines of the future, then the future's just not what it used...
...National Association of Realtors reported on the same day that sales of existing homes rose 4.4%, to the highest level since August. The vaunted New Economy may not have suspended the business cycle, as some of its cheerleaders predicted, but it is definitely giving us a new kind of slowdown...
Even before he was declared President-elect, George W. Bush had become bear in chief. For weeks he?s been warning that the U.S. economy is in for hard times. He may steer clear himself of the term recession. ?Possible slowdown? is one way he puts it. But dirty work is what Vice Presidents are for. So Dick Cheney has been sent out to say the forbidden word. As early as Dec. 3, he was on Meet the Press warning that the nation ?may well be on the front edge of a recession...
...Then again, he and Cheney are just enlarging on what everybody is already thinking?that even if we can avoid a real recession, meaning two consecutive quarters in which the economy shrinks, a slowdown in the rapid growth of the ?90s is plainly in store. The dwindling nasdaq says it all. If those sputtering dotcoms are the economic engines of the future, then the future?s just not what it used...