The economy had been incredibly resilient in the face of lots of potential threats. Those threats have started to take hold in slower growth and corporate earnings, and I think it could get worse yet in the fourth quarter.
More Quotes from Hans Olsen:
The rise in energy costs caused by Katrina is going to start taking money out of people's pockets that they would have spent on something else, ... Look for the (impact) in the earnings of discount retailers, restaurants, and travel sectors - start to look for GDP to be impacted.Hans Olsen
In reality, it won't matter as much because other elements like spending and consumer sentiment look good and that will keep the upward pressure on interest rates.
Hans Olsen
We may be getting very close to the end of this rate-increase cycle and it may be also time for the Fed to make that clear. Stocks will benefit from that.
Hans Olsen
Those are kind of defensive stocks, with fairly inelastic demand. In good times and bad, you're going to use those types of products.
Hans Olsen
This is expected to be one of the worse hurricane seasons, and so far they're right and we're only halfway through it. All you have to do is pose the question What if you had another monster storm in another few weeks, just as things are starting to come back on line I don't know how you would avoid recession in that environment.
Hans Olsen
If the number is 50,000 above or below, that's a variation where you'll see a reaction. If it's below, then people will right away start talking about what the revision will be next month.
Hans Olsen
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