Bernard Baumohl
Bernard Baumohl
economy full katrina oil storm struck
There is a real sense of foreboding about the economy now that Katrina has struck with full force. This storm will be the most devastating ever for the U.S. oil and refining industries.
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On the other hand, Greenspan seems satisfied that his tightening has had a lasting effect. He's likely to stand pat for the rest of the year.
economy generating good jobs plenty
The economy is generating plenty of jobs -- that's good news.
economy imports increase
Our imports increase as long as the economy grows,
batch consumer economic latest news paint picture
The latest batch of economic news does not paint a very encouraging picture on the sustainability of consumer spending.
coming finances greatest household last recession since stress weeks
The stress on household finances in coming weeks will be the greatest since the last recession in 2001,
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It's fairly safe to say that the trade deficit may have peaked now that oil prices are falling and the U.S. economy is showing signs of slowing down.
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The sharp pullback in economic growth during the final three months of 2005 shows the law of gravity has not been repealed. When consumers are burdened with heavy debt loads, rising interest rates, higher energy costs, no personal savings and household income growth that falls below inflation, something had to give. This retrenchment in spending was generally foreseen, though economists weren't sure on the timing and magnitude.