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Mr Magnus thinks the global economy might be able to eke out a meagre growth rate but "if you don't have credit growth operating, it is hard to sustain spending while unemployment is still rising .The bears argue that although governments may have stabilised the banking system, they have not been able to restart private-sector lending.
Euro bears argue that the huge budget deficits most European governments are groaning under will not be fixed by the package, and could actually get worse because of the hundreds of billions of dollars governments will have to borrow to finance the rescue.
While Microsoft is making a big push to compete, bears argue that the company will be outdone at the low-cost end by the likes of Linux and has yet to prove that its systems have the muscle to handle the data centers of big Internet enterprises.
Today the bears argue that a weak economy will result in less than robust earnings growth.
Bears argue that tighter monetary policy in Beijing will slow Chinas stunningly high growth rate.
The bears argue that high oil prices, changing habits and a weak U.S. economy will result in slackening demand and lower oil prices.
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Mr. Abramovitz, with Mr. Kuznets and others, brought modern measures of economic capacity to bear, arguing that the military's plan was infeasible and if it was tried, would lead to shortages and economic dislocation.
Far more important, they argue, is the risk that the private investors and central banks that have been funding America's gaping current-account deficit become permanently less keen on dollar assets.Ken Rogoff, an economist at Harvard University, and a dollar bear, argues that America's image as a great financial centre has been tarnished by the subprime mess.
Analyst Colin Langan of UBS, a Tesla bear, argues that the run-up in shares since early February encompassed "a lot of bullish expectations for the Model 3 that I don't know the stock will live up to".
Still, that is down sharply from their growth rate a year ago China bears would argue that online shopping platforms are just cannibalizing sales from traditional department stores.
The bears who argue that asset prices are about to fall tend to get dismissed as out of touch (dotcom sceptics supposedly "just didn't get it") or are likened to stopped clocks: occasionally right, but mostly wrong.
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