The U.K. tried to cool off the housing market and slow their economy a bit, and they're caught in a situation where the economy is slowing but inflation isn't mostly because of oil prices, ... It's a bit of a dilemma, and that's reflected in their split vote.
More Quotes from Nariman Behravesh:
The typical pattern with a natural disaster like this is that the regional economy gets clobbered but you can barely see it in the national statistics. This time it is very different because of the impact on the energy infrastructure.Nariman Behravesh
Of that 8.9 percent, maybe a third of it was weather-related. The rest of it is underlying trend of weakness in the housing market. You are seeing pervasive signs of weakness.
Nariman Behravesh
We are just starting to see the impact of Katrina. We are going to see awful inflation numbers, awful employment numbers and awful industrial production numbers for a few months.
Nariman Behravesh
The losers were on the low end. Retailers like Wal-Mart had a pretty lackluster holiday shopping season because their customers were hit the hardest by the energy situation.
Nariman Behravesh
When India was the new trend, companies had a gold-rush mentality. Now companies are taking a more mature, sober attitude.
Nariman Behravesh
The fact that we're not getting a spillover into the rest of the economy is pretty good news. The question that core inflation asks Is the price of everything going to go through the roof So far the answer is no.
Nariman Behravesh
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