Word: recessional
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Dates: during 2000-2000
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Even before he was declared President-elect, George W. Bush had become bear in chief. For weeks he?s been warning that the U.S. economy is in for hard times. He may steer clear himself of the term recession. ?Possible slowdown? is one way he puts it. But dirty work...
Why would Bush be willing to spook the economy he?s about to inherit? For starters, he needs to spread the idea that if things get tight for a while, the problem started before he took office. The last recession occurred during his father?s presidency. He doesn?t want...
Then again, he and Cheney are just enlarging on what everybody is already thinking?that even if we can avoid a real recession, meaning two consecutive quarters in which the economy shrinks, a slowdown in the rapid growth of the ?90s is plainly in store. The dwindling nasdaq says it...
Bush?s bearishness may also reflect the influence of his chief economic adviser Larry Lindsey. The former Federal Reserve governor has been sour for so long on the economy?s prospects that he cashed out all his stocks in 1997, when the Dow Jones average was still at 8,500...
In the view of many economists, interest-rate modifications are better than tax cuts as a way of combating slowdowns, in which case the main weapon of recession fighting would rest with Greenspan. All the same, Bush is hoping that he can get the Fed chairman to signal in some...