We had economic growth of 8.3 percent in the fourth quarter of 1999, and a lot of business plans were based on that oversized growth, ... When you make capital spending plans based on that kind of economic growth, you're going to get a lot of problems.
More Quotes from Anthony Chan:
This confidence is encouraging and takes some of the pressure off the terrible number we saw with retail sales.Anthony Chan
The equity market has quite a considerable number of dark clouds hovering over it.
Anthony Chan
Certainly, we see some encouragement. We see an economy that's still weak... but not falling off the cliff. The notion that we're not going to have a recession is confirmed by these numbers.
Anthony Chan
Corporate earnings growth is slowing. Earnings might be growing at 9 to 10 percent, and that's still impressive. But they're going in the wrong direction.
Anthony Chan
When you measure prices of both goods and services, you come up with a tame inflation environment, which is policy nirvana. You can apply as much fiscal policy and monetary policy as you want without side effects.
Anthony Chan
The outsized gain in housing starts was influenced by the same variable dominating most of the other headline stats like the retail sales and industrial production, namely weather. Everyone knows that housing starts is a volatile number that generally reports wide swings.
Anthony Chan
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Experience is a good school. But the fees are high.
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