Michael Gregory
Michael Gregory
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We're seeing signs that consumers are starting to feel the impact of persistently high gas prices. As prices stay high we're going to see the impact broaden from discount to more mainstream retailers.
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The fact that we've had some decent growth, as long as it isn't associated with inflation risk, is generally good for equity markets. But we did see that wage pressure remains elevated. From that perspective, (the report) is neutral.
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People are infatuated with candles, they're using them more than ever,
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All is not quiet on the inflation front. Commodity prices and capacity constraints still pose some inflation risks.
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Claims are pointing to firm, if not firming, conditions in the labor market. Corporate profits are just huge and businesses are in a position to expand.
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I think a lot of people's perceptions are still affected by the bubble years. If you take away that four-year period when the unemployment rate was lower, you have to go back some 32 years to find an unemployment rate lower than it is right now.
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Exports should find further support from the pickup in global economic growth.
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There's little doubt out there that Greenspan will move this time around and try to put the brakes on growth a bit. The question is whether this is a one-time deal or a continuation of a series of moves meant to really keep the economy in line.
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Our last two fires had smoke detectors, but no batteries, ... We're praying to get the word out (about smoke alarms).
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Despite the fact that energy prices are creeping up and housing continues to crumble, surveys suggest job gains are providing an offset for confidence. The potential is there for consumer spending to remain resilient.
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The Bank of Japan is taking a little step towards trying some remedies, ... now appears to be more conducive to helping them.
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Much of the decline is disappointment among investors who were burnt quite badly in 1999 where they thought things had bottomed. You'll have to see some tougher talk from the ECB, more robust economic data from Europe and eventually a rate hike.
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If it's the case that certain kinds of trade are not done with Cuba right now because they're in U.S. dollars, then that's fine -- changing to the euro might help that. If it's a case where using euros to conduct more liberal trade with Europe, then that's certainly of benefit, as well.
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The dollar-yen relationship is still the forefront issue in most people's minds. There's a fear for both stocks and bonds that if the depreciation continues there will be less appeal for U.S. dollar-denominated assets.