Dean Baker
Dean Baker
Dean Bakeris an American macroeconomist and co-founder of the Center for Economic and Policy Research, with Mark Weisbrot. He has been a senior economist at the Economic Policy Institute and an assistant professor of economics at Bucknell University. He has a Ph.D. in economics from the University of Michigan...
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is kind of (the oil companies') good luck. They didn't do anything to earn it. And we're sitting here with a $150 billion bill from Katrina.
borrowing gas led money people pull willing
It does pull a lot of money out of people's pockets. Even if it doesn't go back up much, it translates to a 50-to-60-cents-a-gallon gas tax. But for the borrowing that people were willing to do, it probably would have led to recession.
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If home prices level off, that can knock down growth by 1 or 2 percentage points, from 3.5 percent to 1.5 percent.
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Home and rental prices will come back together by home prices falling. I don't think landlords will be in any position to raise rates too much.
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Does he want to see it burst on its own, or is it appropriate for the Fed to move to deflate asset bubbles?
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Hawaii's home prices suffered in the 1990s because of economic trouble in Japan, ... If home prices in California reverse, it will have ripple effects.
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First of all, it's very expensive to administer private accounts, especially if you let people manage these accounts themselves, ... Bush is vague on how he would set it up and make it work.
home prices run
There has never been a run up in home prices like this.
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We're building at a 2 million-a-year pace, which is more than demand, and we're going to keep building at that pace until home prices correct, ... It's already showing up in the rental market, oversupply is pushing down rental prices.
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WE WERE shocking today and were given a lesson in finishing as they had nine chances and took six of them.
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Until the psychology starts to shift or interest rates jump up, the market will probably stay strong, ... So far we haven't seen that. We've had a lot of stories on housing bubbles lately. Maybe that will affect the psychology.
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With the housing bubble now having generated comparable levels of unsustainable wealth, the economy faces even greater dangers today than it did when the stock market crashed.
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We've backed ourselves into a very dangerous situation. The economy is dependent on everyone consuming like crazy. If everyone heard my diatribe and said, 'Yeah, we better start saving,' the economy would go into a recession.
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