Economic conditions look pretty grave right now. Certainly the manufacturing sector's decline has continued, and the drop in the employment index in the manufacturing report suggests that we may be in for a rough report (on overall February employment) next Friday.
More Quotes from David Resler:
While it's true that capacity use rates are very low, it's also true that much of that capacity has been rendered obsolete by technological advances and that replacement of capital is faster than it used to be. So a lot of businesses may feel they have little choice but to spend, if they want to preserve their competitive edge.David Resler
I don't think there needs to be much concern about inflation right now. Apart from energy, very few of the broad categories of prices have changed much in their direction.
David Resler
A reading as high as 58.5 is consistent with an economy that is growing at a healthy pace. We see encouraging signs of moderating prices, although the vast majority of purchasing managers seem to be facing higher prices.
David Resler
In the past few years, money supply has moved inversely with stock price movements, and that's probably where the weakness has come from.
David Resler
The Fed is without question, especially in light of the behavior of the stock market, focused with laser-like scrutiny on consumer confidence.
David Resler
People are still planning to spend, and today's income numbers tell us that they have the wherewithal to do so.
David Resler
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