Sung Sohn
Sung Sohn
Sung Won Sohnis a Korean American economist, noted for his skill in economic forecasting. He is currently the Martin V. Smith Professor of Economics at California State University, Channel Islands...
balance boost current economic inventory
We're going to get an economic boost from not only production, but from inventory buildup during the current quarter, and probably for the balance of this year.
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The point is that mounting layoffs and weak consumer confidence will keep consumer spending fairly weak.
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We're still losing jobs, but the rate of loss is expected to slow, ... That, hopefully, will be viewed that the economy is starting to improve.
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I'm not sure we will see a big revision in February; I won't be surprised if we do not.
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Argentina is not a potential nightmare. It's a relatively small economy compared to Mexico and Brazil.
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Historically, economic and political crises have been buying opportunities. Looking at 17 crises, ranging from President Wilson's nervous breakdown to the Gulf War, the stock market setback generally has been a short-term matter lasting no more than a few months.
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I think the Fed is pretty much done for this economic cycle, unless some major catastrophe develops, such as a messy war in the Middle East or a housing bubble bursting.
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Greenspan has to make sure the labor market has improved on a continuing basis before he can even think about hiking interest rates. For example, in 1992, he waited 17 months after the peak of the unemployment rate before hiking interest rates.
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The bedrock of consumer spending and confidence is employment. The expectations of more jobs has boosted consumer confidence.
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The economy fired on all cylinders in January.
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It clearly tells us that consumers have and will continue to sustain and support economic growth, ... Consumers have really been the backbone of current economic growth and will continue to be a stabilizer for the balance of this year.
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If you want to really help the economy right away, the fastest way to do that is to have the government spend the money itself, ... The next step would be to give tax cuts to low- and middle-income people, who are more likely to spend the money.
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If there were a bubble in California and if it were to burst, that would be a national economic catastrophe.
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I think we should know about candidates' desires and views, but I think it would be a mistake to assume that they will become reality.