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.
More Quotes from Mark Zandi:
Christmas sales are shaping up to be OK.Mark Zandi
I think this is a harbinger of more problems to come, ... I think we should look for fresh new records in delinquencies in the fourth quarter and first quarter of next year as credit card payments rise higher and as energy prices really begin to bite.
Mark Zandi
Most likely the higher prices will slow growth, ... But there is the growing threat that we get a combination of slower growth and higher inflation.
Mark Zandi
The largest source that drove the very strong growth over the last year was this powerful replacement cycle, which is fading, ... The need to replace inventory is over.
Mark Zandi
We are a very low-cost area in a very high-cost region. Housing values have risen here, but not nearly as much as in other parts of the country.
Mark Zandi
The work force is growing not because employers are hiring a lot of new workers to staff expanding operations. The economy, in other words, is not being driven by businesses out there scouring for opportunity and revenue growth and pushing up wages as they compete to hire more workers.
Mark Zandi
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