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Politics : Stockman Scott's Political Debate Porch
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To: surfbaron who wrote (7618)9/30/2002 10:24:42 AM
From: Jim Willie CB  Read Replies (2) of 89467
 
W.House Sees Business Spending Up
Monday September 30, 9:08 am ET

[not sure I agree with a single opinion stated by Hubbard]
[amazing that taxpayers actually pay fools like this]
[so perhaps more money printing would fix the problem?]
[hey W.H.PRman, meet Professor Kondratieff !!!]

WASHINGTON (Reuters) - White House economic aide Glenn Hubbard said Monday he believed U.S. business spending would start to grow faster in the fourth quarter and that the recent slide in stock markets was not nearly enough to trigger a renewed recession.

"I do believe we will see an emerging investment recovery commencing more forcefully in the fourth quarter of this year," Hubbard told the annual meeting of the National Association for Business Economics, adding that durable goods orders data have indicated a turnaround.

Hubbard said he did not see evidence that the climb in housing prices presaged an asset bubble and said that the cloud of corporate scandals over the economy was lifting. He also said deflation was not a looming threat for the U.S. economy.

However, the chairman of the White House Council of Economic Advisers said he was less secure about prospects for brisk growth outside the United States. Of Japan, he said that the Bank of Japan's monetary policy was insufficiently expansionary.
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