Does that have economic implications To me, the answer is yes. In a sense, we have to wait for recovery until this group wants to sleep with each other again.
More Quotes from Delos Smith:
Consumers right now are bargain hunters, and that's what Wal-Mart is talking about. If you're offering a bargain and the consumer thinks it will go away, you'll get the consumer to buy, but there is no impulse buying going on.Delos Smith
I don't think credit card debt is a problem. It won't stop the expansion. It's something we need to look at, but I consider the American people very prosperous.
Delos Smith
When it's as low as it was, it takes time to start turning it around. Today's report doesn't mean there's a boom, but it certainly is encouraging.
Delos Smith
I've been in the business 40 years...almost 40 years. I can tell you the leaks in 40 years and I won't even use all the fingers on one hand.
Delos Smith
You want the consumer buoyant. Most consumers are not current-events oriented. When you get everybody involved in current events, when they usually are not, then people are not going to go out and buy things just for pleasure of it.
Delos Smith
This is a very nervous country. How much it's going to dampen the economy, I don't know, but it's hard to see people relaxed and creating a boom.
Delos Smith
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