As the natural displacement from other consumption goods toward energy goods occurs with rises in energy prices, it is easy to conclude that our natural wealth and standard of living will inevitably decline.
More Quotes from Anthony Chan:
The sharper-than-expected PPI decline will undoubtedly raise the stress level of Federal Reserve officials at the next policy meeting since it tells us price trends are moving dangerously in the wrong direction, ... The only consolation, however, is that this report was dominated by energy price declines. Outside of the food and energy price components, price trends appear to be stabilizing.Anthony Chan
These numbers give us an indication of the trend, and the trend is still telling us we're in improvement mode, not in breakout mode, where job growth is surging.
Anthony Chan
The manufacturing sector has turned the corner and improved, but it is not likely to push the economy to a level of growth that will make policy makers nervous or financial markets nervous about higher interest rates. It's steady growth, which is better than rapid growth that would likely be snuffed out by the Federal Reserve.
Anthony Chan
The recovery is proceeding, but gradually, and that's actually healthy. It's the kind of recovery central bankers dream of -- gradual, not explosive, and therefore long-lasting and sustainable.
Anthony Chan
The much stronger-than-expected durable goods number is significant because it comes on the heels of a sizable gain the previous month.
Anthony Chan
What is giving us protection is all the global competition that we have. That is preventing companies from passing on most of the costs. Even though productivity has been slowing down, it's still fairly significant.
Anthony Chan
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