Robert Brusca
Robert Brusca
built components main order orders particular picture showing
A lot of the main components are still showing weakness. We still have orders declining, and order backlogs haven't built up to any particular degree. This is the picture of a still-weak manufacturing sector.
given poor report
The report is still a poor one given what has come before, but not terrible,
line
This is very, very much in line with the idea we're slipping into a recession.
bad believe brush compare heard listened market news three warning
This market is wiling to brush away bad news because it doesn't believe in it. Compare it to the Three Little Pigs, when there's a warning they say 'we've heard this before.' But one of these days, there is going to be a warning that the market should have listened to.
ahead continued data face fed hike marginal market rates sees turning
This is what the market did in 1974, ahead of a slowdown in 1975, and the Fed continued to hike rates in the face of marginal data turning worse, ... I don't see where the Fed sees 'traction'.
gains inflation toe
This is the way inflation gains a toe hold,
consumer factors growth income line overall picks special spending tells trend unless
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.
chasing few inflation money oil prices
Oil prices going up is not inflationary. Inflation is too much money chasing too few goods.
imports oil rose
Oil is an important culprit. But it is much more than that. Non-oil imports rose by 0.6 percent.
alter questions raise result
December's result will raise some questions but not enough to alter policy.
december looks november revision weak
December looks weak but the November revision will stave off too much speculation of weakness.
breadth impressive inflation pressures report signals
The breadth of inflation is contained. Inflation pressures are not spreading. This (CPI) report has much more impressive signals than the PPI.
breadth impressive inflation pressures report signals
The breadth of inflation is contained, ... Inflation pressures are not spreading. This (CPI) report has much more impressive signals than the PPI.
broken fast fuzzy growth job remain strong thinking
Back before the recession, we had strong job growth and no inflation. There's fuzzy thinking going on here -- I thought we'd broken the old idea that strong growth is bad. As long as productivity growth can remain high, fast job growth is not a problem.