What If There S No Rebound
Optimists are betting that Norman Schwarzkopf is as good an economist as he is a warrior. Their reasoning: Saddam created the recession with a one-two punch to consumers. The invasion of Kuwait shattered willingness to spend, while rocketing oil prices shrank purchasing power. Under this scenario, the U.S. victory will restore confidence and keep oil prices low. Federal Reserve Chairman Alan Greenspan has helped out, easing short-term interest rates by 2 points since November....