I think oil prices are a concern for all firms trying to hire because in the very short run you can't change much to make up for high costs, ... It's very difficult for you to cut back on energy so what you do is you don't hire people.
More Quotes from John Silvia:
We definitely have to figure that once tax filing season is done and tax refunds are cashed, we do expect consumer spending will slow down in the second half of this year, ... I don't see any way to fudge that (higher financing costs). You're not getting the employment gains or wage and income gains to offset that.John Silvia
Defense spending tends to be very lumpy in terms of the quarter in which it hits. When you're in the middle of a war, you have to have goods delivered. But even if it had been 3.6, it would still be respectable growth.
John Silvia
You have the Baby Boomers having the resources to buy condominiums, betting on the increase in value in the next six months, ... That activity may be the first to feel the crunch if the housing bubble bursts.
John Silvia
We avoided the sticker shock from high heating bills in October because it was so warm. If it stays warm through Thanksgiving, we should have a good holiday shopping season.
John Silvia
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.
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
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