Consumer sentiment numbers are not reflecting economic sentiment, but political or social sentiment. If you were generating an economic forecast of spending from these numbers, you'd be totally wrong.
More Quotes from John Silvia:
There has to be concern about sustainability of growth overseas Japan is central to that issue, ... If people are looking at fundamentals, that's the only news they have to look at this morning.John Silvia
Employment and wages are stronger and therefore, consumer spending is stronger. Housing is slowing, but not as much as we would have expected, and the price of oil is so far not having that big an impact on the consumer.
John Silvia
They see these older cities that others may have passed over or thought for dead as environments where they can really create their own living space.
John Silvia
The evidence so far would suggest we're probably going to have a below-average employment gain in this recovery.
John Silvia
People have adjusted faster than we expected to the way they use credit. This could be a signal that Christmas sales may be weaker than expected.
John Silvia
The language will clearly be different. He'll give you a direct answer.
John Silvia
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