You have to borrow 2 billion a day to fund that. It's an imbalance that's unsustainable.
More Quotes from Joe Liro:
The market was too sanguine about the Fed moving to the sidelines at the end of the year or under a new chairman. They're going to keep tightening until they get a break in the inflation rate.Joe Liro
Next week, earnings numbers will probably be a positive for the market. The overriding negative, though, is going to be the outlook for interest rates.
Joe Liro
Fear of higher rates and higher Treasury yields are the main factors driving markets these days. We've been used to low rates for such a long time that now it seems the market was caught by surprise with yields at these levels. We might see less borrowing and less spending as a result.
Joe Liro
The longer the oil prices stay at this level, the more of a weight it puts on the market. That said, unemployment claims reflect the current strength of the economy. But the perception is that the current strength cannot be sustained with oil prices at these levels. As a result, the market is having a hard time making much progress to the upside.
Joe Liro
Readers Who Like This Quotation Also Like:
Based on Keywords: unsustainableCriticising the other fellow because he's in and you are not seems to me a futile waste of time.
Hartley William Shawcross
I just like movies that somehow expose the world in a way that's different than you imagine it.
Alex Winter
We must strive to encourage East and West not only to move towards each other but also to encourage them to find a new philosophy, a philosophy which will serve as a tool determining the future of Planet Earth - our common and only shelter.
Nursultan Nazarbayev