Robert Brusca
Robert Brusca
economy-and-economics happening mixed results
We're getting sort-of mixed results with what is happening in the economy.
begin creates creep demand employees evidence fed gains generally inflation quite realize scenario starting wage worker
Worker productivity generally creates a scenario where employees realize they can begin to demand more for what they do. While the year-over-year productivity gains are still quite good, there is some evidence that wage inflation may be starting to creep in. The Fed won't like this.
energy inflation rising seems storm weathered
Inflation seems to have weathered the storm of rising energy prices.
gains inflation toe
This is the way inflation gains a toe hold,
chasing few inflation money oil prices
Oil prices going up is not inflationary. Inflation is too much money chasing too few goods.
greenspan line price says stability telling
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.
begun behind economy economy-and-economics growth job pushed signs slow strong surface
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.
convinced doubt good holidays home numbers
No doubt the numbers look pretty good up and down the line. However, I'm not convinced yet that the holidays are home free.
cautionary glad guard markets maybe monetary
Maybe the markets are glad to know they've got a cautionary guard at the monetary door,
concerned fed fighting focused inflation
They are desperately concerned about maintaining inflation fighting credibility. So the Fed is not focused on inflation, it's focused on inflation in the future.
bonds correct fed market takes
The sell-off in bonds is for real and is the correct reaction. The Fed will need confirmation to act. The bond market won't. It takes no prisoners.
borrowing fed mistake
The Fed has never said this borrowing is a mistake and that this is a problem.
consumer overall spending temper
The consumer still has life. It does temper the overall gain, but we're still going to see the consumer spending this quarter.
cards dates fed forces issues key sort
Credibility is a key here. The Fed can't go out hammering away at some of these issues and then say, 'Oh, never mind,' when one of the key dates comes. So I think that's something else that sort of forces the Fed to put its cards on the table.