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...
beyond building continue income large people point reach spend
They can't continue to spend beyond their income indefinitely. If people are building up large amounts of debt, you reach a point where they can't continue.
continue economic future major rising threat
The trustees' projections continue to show that the major threat to the economic well-being of future generations is rising health-care costs.
add budget existing gore keeping point security social surplus system trust using works
Gore is keeping the existing system in place because it works -- using the budget surplus to add to the Social Security trust fund. So what's the point in dismantling it,
across clearly evidence strong
It's clearly very strong across the board. There's no evidence of any downturn at this point.
home prices run
There has never been a run up in home prices like this.
building home pace prices pushing showing until
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.
chances finishing given lesson nine shocking six today took
WE WERE shocking today and were given a lesson in finishing as they had nine chances and took six of them.
few gamble people problem recognize
The problem is that few people recognize it for the gamble that it is.
affect bubbles far housing interest jump market maybe psychology rates seen shift starts stay stories until
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.
building homes increasing quarter seems
When you see it increasing quarter after quarter, there seems to be something going on here. We're building more homes than are being filled.
bubble comparable dangers economy faces greater housing levels market stock today
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.
backed consuming dangerous dependent economy heard ourselves start
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.
check log people
We would really like people to log on to the site, check it out and give us some feedback.