Dollar depreciation is good assuming it is taking place in an orderly manner. The concern is any precipitous plunge. If that were to happen the Fed would have to raise rates significantly.
More Quotes from Sung Sohn:
It's pretty clear that all the pieces for capital spending are in place, including rising sales, lower inventories and increases in shipments and orders, ... So, despite what CEOs say in public, there's no question that capital spending -- outside of aircraft and telecommunications -- has bottomed and is on the way up.Sung Sohn
My concern is that inventories are so low, some businesses will actually miss sales through stock-outs.
Sung Sohn
Historically, economic and political crises have been buying opportunities. Looking at 17 crises, ranging from President Wilson's nervous breakdown to the Gulf War, the stock market setback generally has been a short-term matter lasting no more than a few months.
Sung Sohn
The problem is the bottleneck. The industry simply is not able to process the applications fast enough. They (homeowners) are trying to refinance...But the increase in demand will simply increase the waiting list.
Sung Sohn
A slight decline should not change the picture that much, ... If you look at the fundamentals, despite all the negative news, consumers are in pretty good shape. The jobless rate is pretty low, and their net worth is going up because house prices going up
Sung Sohn
That's one of the reasons why consumers are not going on a spending spree, though they're keeping the economic ship afloat. When higher unemployment numbers come out, that will probably rattle consumer confidence a bit.
Sung Sohn
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