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Posted by: Michael Mandel on August 14
Richard Berner of Morgan Stanley writes:
Strong global growth, paced by improving overseas domestic demand, will sustainably boost US net exports for the first time in two decades, in my view. That external lift will also contribute to improved US job and income gains, powerfully offsetting the effects of the coming contraction in housing and the deceleration in home prices.
This is the rosy scenario. I’m not sure if I believe it.
Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.