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Senior executives say:





baboosaa
Quote:
Many Democrats say the economy needs more stimulus. Business lobbyists and their Republican allies say it needs less regulation and lower taxes.
But here in the heartland of America, senior executives say neither side's assessment fits.

They blame their profound caution on their view that U.S. consumers are destined to disappoint for many years. As a result, they say, the economy is unlikely to see the kind of almost unbroken prosperity of the quarter-century that preceded the financial crisis.

Across the industrial parks and office towers of the Chicago region, in a more than a dozen interviews, senior executives said they see Americans for years ahead paying down debts incurred during the now-ended credit boom and adjusting spending to match their often-reduced incomes.

"It's a different era," said Daryl Dulaney, chief executive of Siemens Industry, which has 30,000 U.S. employees who make lighting systems for buildings and a wide range of other products. "Our hiring and investment decisions have to be prudent and reflect that."

Executives see little evidence that the economy is slipping back into recession. But they describe a business environment in which sales come in fits and starts and their customers can't predict what they will want to buy in the future.

"In the past, our customers had more long-term vision on what they're going to need," said Bill Larsen, president of Larsen Packaging Products in Glendale Heights, Ill. Now, he said, "they don't know what they're going to need and when they're going to need it."

Edit by Bondings: please quote whatever you didn't write yourself and provide the source!
http://www.washingtonpost.com/wp-dyn/content/article/2010/08/20/AR2010082005165.html
standready
baboosaa wrote:
But here in the heartland of America, senior executives say neither side's assessment fits.

Yet your location shows as "London"? While I agree US households need to stop spending especially beyond their means, I would like to know where your information and quotes came from came from?
liljp617
If you're quoting an article or website, you must put the quote in quote tags and give a link to the source. Forum rules.



As for the content, I imagine the people actually running businesses have a better "economic eye" than the majority of Republicans or Democrats. Which is unfortunate to say the least. And I don't buy that anybody in Washington really cares about lowering taxes (or government spending for that matter).

But yes, a lack of effective demand is probably going to slow growth noticeably. Since, presumably, people will be paying off large amounts of debt, they may not demand as much in goods/services. In the end, we get a vicious cycle for at least a short period of time.
menino
Americans have always been big spenders, and even this Black Friday had seen really high sales, despite the economic situation at the present time.

Who knows the American people - is it the government or sales executives, who mainly see numbers?

Even if Americans are aware now of spending, based on the unsettling economy, I doubt that it will last for too long - Americans do like to spend, and are also generous in giving to helpless people.

I think now, customers are undecided on spending, because they are lost in the choices that they have to make, really, apart from the current quality of the products, most of which comes from China.
deanhills
menino wrote:
Americans have always been big spenders, and even this Black Friday had seen really high sales, despite the economic situation at the present time.

Who knows the American people - is it the government or sales executives, who mainly see numbers?

Even if Americans are aware now of spending, based on the unsettling economy, I doubt that it will last for too long - Americans do like to spend, and are also generous in giving to helpless people.

I think now, customers are undecided on spending, because they are lost in the choices that they have to make, really, apart from the current quality of the products, most of which comes from China.
I know this must be a bit simplistic, but don't the rich always get richer when the poor are getting poorer? And those in the middle in the United States seem to be suffering now too. But still manage to stay in the middle?
standready
deanhills wrote:
And those in the middle in the United States seem to be suffering now too. But still manage to stay in the middle?

Well I think many in the middle are finding themselves slipping into the poor category or at least "low middle".
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