Robert Brusca
Robert Brusca
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This is in line with what Mr. Greenspan has been telling us, which is that we have price stability for goods. But he says he doesn't think we have price stability for services.
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It's a surprise. Certainly the Fed is worried about inflation, but it has been subdued in recent months, so I wouldn't be too concerned about that.
rate surprise
It's a surprise -- we thought the unemployment rate would be edging up.
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It's like an old Jonathan Winters movie - 'The Russians aren't coming! The Russians aren't coming.' And they'll probably never be here.
fresh market view
It makes sense to take a fresh view of things, and then the market readjusts,
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It's like saying we're not going to hit as hard if you fall from the 50th floor of the Empire State Building instead of the 100th floor of the Empire State Building. The question is, what floor are you going to jump from and is it really going to hurt you?
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It was more than what I was looking for.
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No matter which candidate you support, you have to realize there will be a lot of discord in this country, ... And no matter how much you like your candidate, you realize neither one of these guys has a magic bullet for the economy.
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You count up the products (showing price increases) and you see there's a little more pressure just below the surface, ... The overall energy number showed a big decline. That covers up a lot of ills. But the PPI was the warning shot across the bow. With the CPI report we dodged the bullet.
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You can't repeal the laws of economics. Wages in China are so cheap, that you'll never make labor cheap enough in the United States to compete with that.
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The claims numbers always do strange things at the end of the year. There was some improvement at the turn of the year, but the story is that claims are gravitating back to the 400,000, where they were for quite while.
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These are big declines. It shows you how weak the economy is. Prices don't decline like this unless you've got slack demand conditions.
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I think some of the job growth has been pushed forward. Behind the surface of these very strong reports, there are signs the economy has begun to slow down.
If you look at the Fed's own numbers,