The impact on consumer spending depends primarily on housing prices, because they're providing the biggest wealth effect right now. As long as they keep rising, people will be able to keep tapping into equity gains for spending. For now, this report just represents consumer grumpiness.
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He's the same age, same clarity of expression, same demeanor, very steady, interesting background with the Bush administration and involved with the best successes in their minds - the tax cuts,
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We're not in crisis mode now.
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These figures should relieve some of the fears of Fed officials who have been recently sounding the alarm on inflation prospects.
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Based on Topics: People QuotesThe last few years have been my happiest. I'm happy in the years that most people are blue and sad and waiting to die. I don't feel that a bit. Smiling has a lot to do with it. You can just lift your spirits by smiling a little bit.
William Proxmire
The most costly of all follies is to believe passionately in the palpably not true. It is the chief occupation of mankind.
H. L. Mencken
And, strangely, this one of the few things in life that the third, the latter, the buy with our eyes closed has actually done better than everybody else.
Jim Cramer