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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: ild who wrote (232191)3/30/2003 12:57:58 AM
From: ild  Read Replies (1) of 436258
 
afr.com
...
Bush appointed Lindsey as his chief economic adviser for the first two years of his term, replacing him last December. Lindsey now runs his own consultancy, the Lindsey Group. Like Bill Gross, Lindsey has serious concerns about the underlying strength of the US economy, though for different reasons.
...
"The damage that the bursting of the bubble did to corporate America's balance sheet is a lot worse than we thought it was," he says. "It's going to be a drain on corporate cash flow for some time.''

With Japan's post-bubble experience in mind, this will lead to stagnation unless two things are done, Lindsey says. "First, companies have to make active balance-sheet repairs. Second, they need the economic growth to generate the profits to give them the ability to make those repairs."


Les found the link. Les, thank you for digging our great information.
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