| The American Economy |
Everyone knows that America's economu is slowing. Thanks to the bursting of the housing
bubble, overall GDP growth has fllen back sharply. The biggest short-term uncertainty for the
world economy is whether American business cycle,a nother slowdown has recieved scant
attention. America's potential rate of growth that is, the pace at which annual output can expand
without pushing up inflation is also falling. By some estimates, it could drop to 2.5% over the next
few years, which would be the slowest pace in over a century.
If that happens, the consequences will be serios. Tax revenues will grow more slowly than
expected. Monetary policy will become harder to manage: as the 1970s showed, inflation can get
out of control if central bankers do not realise that an economy's peed limit has fallen. Financial
markets will be distrubed as conventional wisdom adjusts from an assumptions of 3-3.5 %
potential output growth and investors downgrade their expectations.... |
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- McCain:War in Iraq qill end soon
- Clinton: Ready on foreign policy
- Poll: It's all tied up in Texas
- Nadar lashed out at Osama, Clinton
- Raw Politics: Words matter
- Clinton, Obama goat it over trade
- Dean questions McCain's spending
- Obama fights back about patriotism
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- 1992-1996: President of Cambridge
Communications
- 1993-1996: Served as Arkansas
lieutenant governor
- 1996: Elected governoir of Arkansas
and served until January 2007
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- Existing home sales hit 9-year low (AP)
AP - Sales of existing homes fell to the lowest level in nearly a decade in January while the median price for a home dropped for the fifth straight month.
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- Existing home sales hit 9-year low (AP)
AP - Sales of existing homes fell to the lowest level in nearly a decade in January while the median price for a home dropped for the fifth straight month.
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- Existing home sales hit 9-year low (AP)
AP - Sales of existing homes fell to the lowest level in nearly a decade in January while the median price for a home dropped for the fifth straight month.
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- Existing home sales hit 9-year low (AP)
AP - Sales of existing homes fell to the lowest level in nearly a decade in January while the median price for a home dropped for the fifth straight month.
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