Carl Tannenbaum
Carl Tannenbaum
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Even with zero-percent financing, monthly payments for SUVs are still high, ... Consumers being willing to pay that much makes a positive statement about their sense of financial well-being.
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Eighteen years of excellence has earned Greenspan the benefit of the doubt when blame is being allocated.
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It's certainly surprising. I mean, all of the recent news suggested that we're going down a slippery slope toward a slower economic time.
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It's a big surprise and another puzzle for economists to try to figure out.
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It's a good time to make sure your debt is at a reasonable level.
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There are a lot of cross currents out there ... but overall the report suggests the job market is still doing pretty well.
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The pool of available labor is diminishing and worker efficiency is growing more slowly. This adds up to a higher level of pressure on wages, and, by inference, on inflation.
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We've been able to achieve great things amid great challenges- including the stock market crash of 1987, the bursting of the stock bubble in 2000, two wars and the September 11, 2001, terror attacks. Alan Greenspan might be thought of as our most valuable economic player.
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They're obviously very close to being done with that long string of tightening.
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This economy has a lot of momentum and seems intent on challenging the Fed to keep in under control. Inflation is a real risk here after six years of expansion. The Fed perhaps is taking the first step, a down payment if you will, to try and keep that under control. But it may take more than what we saw yesterday.
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After all the negative news about our trade position, our fiscal problems, our currency, our inflation rate and the Fed's credit-tightening program, long-term rates remain very, very low.
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Our guess is that long-term rates will begin to drift up later this year, albeit modestly.
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Outside of Detroit -- and outside of the gulf region -- there are signs that the economy is still doing very well.
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We're nowhere near the same economy as we were in the 1970s. We're more service-based. We're much more energy efficient.