For the first time in 18 years, we managed to get through one of these semiannual congressional testimonies without a bottle of Advil in one hand and a Thesaurus in the other.
More Quotes from David Rosenberg:
With the exception of the backward-looking Q4 GDP report, the data released today surprised to the downside.David Rosenberg
Investors should be focused on regions where there are healthy balance sheets and high personal savings rates. Areas where there will be appreciating currencies, where there is pent-up demand and where there is an ability among policy makers to spur that pent-up demand.
David Rosenberg
We think that countries and areas of activity that have been weakest in the last couple of years are likely to see the strongest rebound in growth. Thus, Germany, Italy and the Netherlands should see more marked recoveries than Spain and France, where activity has held up well.
David Rosenberg
If the Fed is truly data dependent, then what matters most...is the data flow for the second quarter. What do we know about the second quarter Well, not that much, but what we do know suggests a slowing to around a 2.5 annual rate.
David Rosenberg
(T)hat's not a recession-maker, but it's a pinch nonetheless - it means a little less steak and a lot more bologna, fewer outings to the nightclub and perhaps one less vacation on the cruise line (but maybe more time at the blackjack table).
David Rosenberg
Confidence declines of this magnitude typically happen around 'shocks' or 'events,' ... We don't really know what the 'shock' was this time around, but maybe we'll find out when the non-farm payroll report is released on Friday.
David Rosenberg
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