It means that they're going to be under a lot of financial pressure in the years ahead. And that's going to put pressure on the entire economy and on the political process.
More Quotes from Mark Zandi:
I think the message in this inverted yield curve is muddled. I think it is something to watch and to understand better. But I am not overly concerned.Mark Zandi
This is a similar point in the business cycle to when Greenspan took over the reins of the Fed. And of course he was tested right away with the 1987 stock market crash.
Mark Zandi
Broadly speaking, the economy is in a pretty good place. But it's no longer obvious what the next step should be. Now it gets a lot more complicated.
Mark Zandi
It would take time for that to occur and during this period of adjustment -- some things might not get done -- maybe some crops won't be picked or some hotel rooms won't get cleaned.
Mark Zandi
If revenue growth does not start to pick up that would squeeze profit margins.
Mark Zandi
Some 20 percent of the nation's refining capacity seems to be right in Rita's path. If that gets disrupted at all, then gasoline, jet fuel, natural gas and home heating oil will surge higher.
Mark Zandi
Readers Who Like This Quotation Also Like:
Based on Topics: Finance Quotes, Politics QuotesI've raised Michael. I changed his diapers when he was little.
Jackie Jackson
Physical infidelity is the signal, the notice given, that all fidelities are undermined.
Katherine Anne Porter
If you look over the course of a hundred years, I think the gradual erosion of the consensus that's held our country together is probably more serious than a few bearded terrorists who fly into buildings.
Pat Robertson