I don't think credit card debt is a problem. It won't stop the expansion. It's something we need to look at, but I consider the American people very prosperous.
More Quotes from Delos Smith:
This is a very nervous country. How much it's going to dampen the economy, I don't know, but it's hard to see people relaxed and creating a boom.Delos Smith
People are seeing we're not getting job growth, even though there have been a lot of promises of it. That's the key for people to be satisfied, you have to have job growth.
Delos Smith
Consumers right now are bargain hunters, and that's what Wal-Mart is talking about. If you're offering a bargain and the consumer thinks it will go away, you'll get the consumer to buy, but there is no impulse buying going on.
Delos Smith
We're going to see people trimming their expenses here and there. They probably will not eat out as much or go to movies as often as they normally would. So restaurants and theaters are also vulnerable.
Delos Smith
You want the consumer buoyant. Most consumers are not current-events oriented. When you get everybody involved in current events, when they usually are not, then people are not going to go out and buy things just for pleasure of it.
Delos Smith
I've been in the business 40 years...almost 40 years. I can tell you the leaks in 40 years and I won't even use all the fingers on one hand.
Delos Smith
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