Word: stocking
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Dates: during 2000-2000
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...wallowing in the economic trough of the past. The overall outlook is heady. But only the deft will prevail in this supercharged economy. More than ever, even the most nimble are ultimately at the mercy of American shareholders, who could wake up one morning soon and decide that the stock market is for the birds...
...pare the U.S. budget deficit, which has succeeded beyond anyone's wildest fantasies. Among other things, he noted, the fiscal achievement turned what government economists in the mid-1990s projected would be a $400 billion deficit in fiscal 1999 into a $120 billion surplus. At the same time, individual stock-market investors are behaving almost like professional venture capitalists, ignoring short-term profits--or the lack of them--in favor of long-term gains. "There's been a real strengthening of equity culture," he said...
...been to raise consumer debt and the U.S. balance-of-payments deficit to alarming levels. These have added to the inflation concerns of Federal Reserve Chairman Alan Greenspan, who on Feb. 2 jacked up interest rates another quarter of a percentage point. Further tightening could spook an increasingly jittery stock market, and the pressure for a bigger boost remains strong. Much of America's current wealth could evaporate with stunning speed. Despite big average increases in disposable income, Tyson pointed out, "savings rates are still declining, and no one knows what to do about that in any country...
...only way out, according to Courtis, may well be for the Bank of Japan to print more money. That approach to dealing with the debt load, he said, would cause a torrent of wealth to leave Japan and push international stock markets higher (or at least put a floor under their decline). But it would also mean a lower yen and thus more attractive Japanese exports. Though other economies might be leery of that, Courtis suggested they should prefer a low yen to a deeply indebted Japan. "You can't have it both ways," he said...
...that, Naim saw growth possibilities of 2% to 3% in the region. U.S. trade and foreign investment have made Mexico a comparative bright spot, and Brazil has begun to recover from a slump. But the improving prospects depend on continuing prosperity outside the region. "It is wrong that a stock-market crash in the U.S. could benefit emerging markets," said Naim. "When there is a correction, money flows out of the American stock market into bonds--not to emerging markets...