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.
More Quotes from Hans Olsen:
That shouldn't have been a surprise to anyone, because all the background was in place for that to happen what with rising interest rates and consumer spending where it's at, ... We may be seeing the beginning of a real slowdown in the housing market. That's a big concern hanging out there.Hans Olsen
The market is clearly responding to the drop in consumer confidence. It's hard to be terribly optimistic when it cost you 60 to fill up the car.
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
It's remarkable that consumer confidence remains so high and it may help bring to stocks some buying momentum. Companies in the industrial and consumer sectors are the most likely to benefit from high confidence levels at the start of 2006.
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
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