Whether it's lingering layoffs, receding real wage growth or cutbacks in healthpension benefits, corporate America is now in the process of shifting its lack of pricing power onto the backs of its workforce.
More Quotes from David Rosenberg:
There's nothing in the tea leaves telling us we'll be seeing much labor-market buoyancy for several months.David Rosenberg
The glue that kept the consumer market together the last few years was the wealth effect from the housing boom.
David Rosenberg
There is going to be near-term inflation. Is it going to be sustained I doubt it.
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
Out of those five times, the economy fell into recession 100 per cent of the time.
David Rosenberg
We have one of the weakest growth rates ever during a tightening cycle, and we have to ask the question why the Fed still believes it is accommodative at 3.75 percent.
David Rosenberg
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Study strategy over the years and achieve the spirit of the warrior. Today is victory over yourself of yesterday; tomorrow is your victory over lesser men.
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