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...
change consumers decline despite good house negative net picture prices rate slight worth
A slight decline should not change the picture that much, ... If you look at the fundamentals, despite all the negative news, consumers are in pretty good shape. The jobless rate is pretty low, and their net worth is going up because house prices going up.
coming confidence cuts gains high job negatives offset remains sales
That's why confidence is important. If it remains healthy, gains in sales will be high enough to offset the negatives coming from job cuts. It's a tug-of-war; right now, job cuts are winning.
both call economists meaning works
This is what economists call a simultaneous process, meaning that it works both ways.
almost economic economy jobs per producing recovery terrible three
This is a terrible number. The economic recovery is almost three years old, and the economy should be producing 200,000 to 300,000 jobs per month.
affected bond business cut economic good heel perk yields
This cut ... won't do much good to perk up economic growth, ... Now, bond yields should be trending up. The Achilles' heel of the economy, business spending, won't be affected much by this cut.
continues current economic federal generate growth indicator payroll recovery reserve seems signs string sufficient supporting weak
This economic indicator continues the string of statistical signs supporting the current Federal Reserve stance, ... The recovery seems to continue, but it is still too weak to generate sufficient payroll growth for inflationary pressure.
confidence consumer fairly layoffs mounting point spending weak
The point is that mounting layoffs and weak consumer confidence will keep consumer spending fairly weak.
increases jobs monetary policy unless until
Until and unless there are significant increases in jobs over a period, tighter monetary policy is out of the question.
bubble east economic fed housing major messy middle unless war
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.
assume desires mistake
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.
advantage boils continuing fence housing jumping low mortgage people rates sitting
It boils down to housing affordability; mortgage rates have risen, but they're still historically very low, ... We're continuing to see people who had been sitting on the fence jumping in to take advantage of these low rates before they go back up.
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.
aggressive market
I think the aggressive expectations of the market are not going to be met.
breakdown buying crises economic few generally gulf lasting looking market matter nervous political president stock
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.