Trends show a sharp surge on auto spending in July but little strength elsewhere. Most disturbing is the ongoing sluggishness for services. Demand there is hovering around (annual) gains of 2 percent. That won't create many jobs.
More Quotes from Robert Brusca:
I have no plans to do anything with it probably put it in the bank. I'm not going to change my spending habits.Robert Brusca
No doubt the numbers look pretty good up and down the line. However, I'm not convinced yet that the holidays are home free.
Robert Brusca
The trade deficit seems to only get bigger and never recede. The reasons are clear, oil prices are up, foreign growth is still relatively weak and US growth is strong. There is no reason to forecast a lower deficit.
Robert Brusca
There's that group of small business owners, where a lot of the jobs are, for whom hiking taxes will hurt their business. They already face higher heating costs, insurance costs -- at some point, they may decide there are too many costs to run a business and decide it's not worth it any more.
Robert Brusca
But it was a strong year of growth and you see the inflation numbers were very, very tranquil. If anything, bonds are going to focus on inflation so we should be seeing a good bond market reaction to this.
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
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