Economic Storm CloudsCRN talks to economist A. Gary Shilling about upcoming consumer and business spending pullbacks and the risk for the technology industry: "I don't see any reason that American business is going to suddenly lose the kind of discipline that was really borne out of some tough times in the early part of this decade that gave them the zeal to be cautious. And if the economy is going to be back in the soup later this year or early next year, I would think there would be renewed enthusiasm to be parsimonious in technology spending." Shilling concludes by expressing his belief that the Federal Reserve will continue to raise interest rates to forestall inflation - that the Fed has learned that 'overtightening', even to the point of recession, is always better than 'undertightening." Over at the Big Picture, Barry Ritholtz has been saying this for a while. Posted by Joe Caponi at 10:57 AM, July 27, 2006 This is a public forum. United Business Media and its affiliates are not responsible for and do not control what is posted herein. United Business Media makes no warranties or guarantees concerning any advice dispensed by its staff members or readers. Community standards in this comment area do not permit hate language, excessive profanity, or other patently offensive language. Please be aware that all information posted to this comment area becomes the property of United Business Media LLC and may be edited and republished in print or electronic format as outlined in United Business Media's Terms of Service. Important Note: This comment area is NOT intended for commercial messages or solicitations of business. |
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