If spending numbers looked like sentiment numbers, we'd be back in recession, ... The good news is that consumers are complaining, but they're spending.
More Quotes from Robert Barbera:
What it means is that with the benefit of hindsight, the late '90s never happened,Robert Barbera
Faltering U.S. new home sales, reflecting shrinking housing affordability, call into question the notion of another year above-trend growth for U.S. consumer spending and real gross domestic product.
Robert Barbera
It's a much smaller part of the U.S. economy than it was then. Today nine out of 10 jobs in the United States are not in manufacturing.
Robert Barbera
You've got a housing boom that is consistent with 8 percent GDP growth. The reason growth is not there is that the dollar is wildly overvalued versus Asian currencies, and we have this huge trade deficit.
Robert Barbera
Now you should expect facts on the ground to change as energy production and conservation come to the fore.
Robert Barbera
So the stock market could have a negative wealth effect and weigh on capital spending, but a sharp decline in long-term interest rates would be an important counterweight.
Robert Barbera
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