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.
More Quotes from Robert Brusca:
The number of Americans killed in Iraq during the peace is almost as great as the number killed during the war -- so we have an economic recovery that doesn't look like a recovery, and we have a peace that doesn't look like a peace.Robert Brusca
We're getting some very good spending going into the first quarter. It's interesting that while there is spending optimism, consumers are still clearly divided into two main categories -- those with lots of money and those that are hurting. That's why these monthly results have shown so much irregularity.
Robert Brusca
While consumer spending has sparked up a bit recently, linking it to better output growth is still highly speculative.
Robert Brusca
People are aware of what energy prices are doing to their pocketbooks, and their company,
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
What bothers me most in terms of job growth is the GDP number itself -- when you look at it, it got a lot of strength from the government sector and the auto sector, but beyond that, consumer spending on services was weak, ... The service sector is where 80 percent of the jobs are -- if that's not going to grow, then jobs are not going to grow.
Robert Brusca
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