December's result will raise some questions but not enough to alter policy.
More Quotes from Robert Brusca:
The consumer still has life. It does temper the overall gain, but we're still going to see the consumer spending this quarter.Robert Brusca
Eventually you have other prices going down to compensate for the fact that energy went up. But that doesn't work itself out in a month or two it works out over a period of time.
Robert Brusca
We now are on formal rate hike watch. Hope the Fed has this one right because this admission will hike bond rates.
Robert Brusca
There are so many low-paid people who are educated that education is simply not the answer. The answer is, you will be unemployed if this is not stopped.
Robert Brusca
Foreclosures have been running low nationally because home prices have been up -- anybody who couldn't pay their mortgage could simply sell their house and pay off the mortgage balance with their equity, ... If you don't have any equity, you can't forestall foreclosure.
Robert Brusca
So while some special factors may be boosting spending, the overall trend of spending is well out of line with income growth. This tells us that this spending trend is unsustainable unless consumer income growth picks up sharply.
Robert Brusca
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