Mark Vitner
Mark Vitner
good income news personal report
Today's personal income report had very good news on inflation.
serious view
We do not view this as anything more serious than a much-needed correction.
bridge case cuts gap hiring hope picks plan precarious seems tax until
We hope it will be the case that tax cuts will bridge the gap until hiring picks up, but that seems like a pretty precarious plan. But it's the only plan we've got.
bit close fear fed housing market maybe slowing takes today yesterday
Yesterday there was a little bit of a fear that maybe the housing market is not slowing down much and that the Fed has to do a little bit more, and today it takes some of that fear back out. They are really close to being done.
add combined difficult employer existing forces gains health next work year
When combined with the anticipated double-digit gains in employer health-care costs, manufacturers may find it very difficult to add to their payrolls next year and may opt to work their existing work forces longer.
combined employee growth health inability job prices raise reason selling single
When combined with the run-up in employee health-care costs, ... the inability to raise selling prices is the single most important reason that job growth has been lagging so much during this recovery.
continue fed inflation interest paid prices raise running
The prices paid is still way up there, inflation is still running a little hot, enough that the Fed will continue to raise interest rates.
along badly business came economy economy-and-economics inventory numbers realizing result revised saw second slightly trade weaker weakness week wider zero
We're just now realizing how badly off the economy was in the second quarter, ... The wider trade gap, along with the weakness we saw in the business inventory numbers that came out this week and weaker construction spending, will probably result in a second-quarter revised GDP number that will be zero or even slightly negative. It will be an eye-opening number, but it's no more worrisome than what we've seen.
building business consumer driven economy home shifting spending
We're shifting from an economy driven by consumer spending and home building to one driven by business investment.
both created jobs quality quantity seeing
We're seeing both the quantity and quality of the jobs being created improving.
expect given weakest weakness
We expect to see weakness in the PPI given the weakness in manufacturing, which is the weakest part of the economy,
change coming latin less people
What would change this is if we were to see an unanticipated strengthening in the U.S. dollar. We'd see less people coming from Latin America.
coming damn economic interest percent plenty rates reports respond weak zero
We're going to have plenty of weak economic reports over the coming months. If they respond to every one, they'll get down to zero percent interest rates pretty damn quick.
account adjustment came causes data employment gauge hard hiring holiday later might november numbers problem thanksgiving wider year
The problem with the November employment numbers is hiring for the holiday season. It's hard to get a gauge of what it's going to be. They do a seasonal adjustment to the number to account for that, but the seasonal adjustment causes wider swings. And this year Thanksgiving came later in the month, so hiring might have started after the November data was collected.