Peter Morici
Peter Morici
Peter George Morici, Jr. is an American economist and Professor of International Business at the R.H. Smith School of Business at the University of Maryland, College Park. He is a graduate of SUNY Albany in New York State where he received his Ph.D in Economics in 1974. He is a nationally syndicated columnist, with his articles appearing in many publications such as The Washington Times, The Hill, Townhall.com, Newsmax, and several regional newspapers throughout the United States. Morici often appears...
amount attempt chinese fig
This is a fig leaf. It's an attempt by the Chinese to do the least amount possible,
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Americans continue to buy Japanese, Korean and German cars in large numbers and more consumer goods from Asia, in addition to more expensive crude oil and refined petroleum products from abroad.
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This moderate wage growth should dispel any notions the Fed may hold (that) labor markets and spiraling wages could reignite inflation.
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As long as housing prices don't go down, consumers have more equity they can borrow against. If mortgage rates go up another 1.25 or 1.5 percent and pierce 7 percent -- watch out. That's when the housing bubble bursts and consumers would cut back on spending a lot.
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Higher oil prices and a strong dollar will push the trade deficit to new record highs, with the monthly trade deficit likely exceeding $75 billion by mid 2006.
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But when you find someone working on the assembly line at General Motors is making more than a Detroit policeman, you see that support start to decline.
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Gasoline prices did rise in January. Spot prices for natural gas fell in December and January, but it is not clear how much of these markdowns filtered through to homeowners and commercial consumers.
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Consumer spending has been pulling the wagon for a while now. That won't be the case next year.
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The retail sector is enjoying a decent but unexceptional holiday shopping season.
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The higher import prices are starting to bite and the lower import prices are starting to have an effect,' ... I think we can start to wind our way down to about $20 billion.
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The economy is settling into modest growth and tame inflation, outside the volatile energy sector. Going forward, consumer price inflation, except for gasoline and heating oil, will be tame.
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The outlook remains poor. Production cutbacks at Ford and GM, mediocre personal income growth and record trade deficits all bode poorly for economic growth and jobs creation.
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The outlook remains poor, ... Production cutbacks at Ford and GM, mediocre personal income growth and record trade deficits all bode poorly for economic growth and jobs creation.
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It's really the tale of two cities. For highly educated and highly skilled people, especially those who don't face competition from overseas, the job market is pretty good. For others, it's not so good.