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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It's pretty clear that all the pieces for capital spending are in place, including rising sales, lower inventories and increases in shipments and orders, ... So, despite what CEOs say in public, there's no question that capital spending -- outside of aircraft and telecommunications -- has bottomed and is on the way up.
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Employment gains are rising at a slower rate, retail sales are decelerating somewhat, the stock market is going through some turmoil and the Middle East situation is also probably having a dampening impact on consumers' willingness to spend, ... So I think the Michigan confidence report is consistent with an overall picture in which consumers are doing well, but probably taking a breather for a while.
backbone balance clearly consumers continue current economic growth support sustain tells
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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Business spending is the Achilles heel of the economy, ... The economic baton needs to pass from consumers to businesses.
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It's quite possible the Fed will have to turn around and raise rates.
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The loss of confidence in the financial reporting of Corporate America could hurt both consumer and business spending, ... The reduced availability and higher cost of credit, as well as the desire to strengthen the balance sheet, could cause firms to postpone capital spending plans and accelerate layoffs.
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If they keep the word, the financial markets will like that, because the Fed has put itself in a self-imposed box. If they discard the word measured, they'll be saying they're free to do what they want.
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Immediately after the terror attacks, we were shell-shocked and stopped doing everything but watching television,
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Clearly, the economic fundamentals of monetary and fiscal policies, as well as the falling value of the dollar, support a recovery. What we're not sure of is how strong the recovery is going to be.
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The economy and the job market are not out of the woods yet,