It is a little surprising given the strength of the economy that there is a perception - at least among some of the public - that the economy is not very good.
Edward Lazear
strength perception good public economy
Are people behaving as if they believe this is a weak economy? I see no indication of that. In fact, I see the contrary.
people fact economy weak
On the other side of the trade deficit, of course, is the capital surplus. We are buying more goods than we are selling, but, on the other hand, the capital account surplus means that the United States is such an attractive market.. That individuals from abroad are investing in the United States.. At a record rate.
market hand individuals investing selling side attractive trade
We would see lower levels of investment, lower economic growth, and as a result, lower wage gains.
growth result investment
If you look at the housing market and say, are housing prices going up where job growth is high, where wage growth is high, where demographic movement brings people into the housing market? All of those things seem to be true.
growth people true market movement things job
Most who have been looking at the fourth quarter view that as a blip rather than a trend and expect a continued strong economy.
strong economy view
The only way to eliminate the deficit in the long run is through growth.
growth run
We are moving into that phase where we expect that wage growth will catch up and take productivity over.
growth productivity moving
If we were to see an abrupt change in exchange rates, we might expect there might be some change in that. But again, I don't think anybody's predicting any kind of abrupt change.
change kind
It would be a significant problem and it would move in exactly the wrong direction.
problem wrong direction
One of the things we worry about when we cut the tax on gasoline is that it basically stimulates additional use.
worry
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