This really underscores that just because there's a booming housing market, it doesn't translate into strong economic growth. It suggests that consumption spending has a built-in speed limit to it. You just can't expect to grow very fast.
"James Parrott" was an American actor and film director; and the younger brother of film comedian Charley Chase.
More James Parrott on Wikipedia.It certainly disrupted economic life in New York City; there's no doubt about that. But on the business side, I think a lot of it will be made up eventually, some of it right away and some of it more spread out.
We've been borrowing our way out of the recession, and nothing else has kicked in to take over.
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