It isn't very much but it's the first negative in 10 years. That's the big difference.
More Quotes from Patrick Newport:
The way it hurts is when housing prices peak and then we no longer have this wealth effect that has been driving consumer spending. And so far, housing prices are growing at double-digit rates. But it's going to happen sometime, and we think it's going to happen probably starting in the second quarter.Patrick Newport
With interest rates continuing to rise, all signs point to a further weakening in sales just down the road.
Patrick Newport
While there is no room for complacency, the Fed can take comfort in the fact that core inflation remains tame.
Patrick Newport
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Respect your efforts, respect yourself. Self-respect leads to self-discipline. When you have both firmly under your belt, that's real power.Clint Eastwood
What we get from this adventure is just sheer joy. And joy is, after all, the end of life. We do not live to eat and make money.
George Leigh Mallory
It is not to be forgotten that what we call rational grounds for our beliefs are often extremely irrational attempts to justify our instincts.
Thomas Huxley