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.
More Quotes from Sung Sohn:
Hopefully, by August (when the Fed next meets), we should have a pretty good idea that the economy is expanding. A tax rebate and earlier cuts will be working. If the Fed cuts in August, we will worry more about them overdoing it.Sung Sohn
This is what economists call a simultaneous process, meaning that it works both ways.
Sung Sohn
This time around, my guess is that the lead may end up being shorter than the historic average, ... I wouldn't rule out the possibility of the stock market being an almost coincident indicator.
Sung Sohn
We have a situation where the baton of economic growth needs to pass from consumers to businesses, but that hasn't happened yet,
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
Without a doubt, there will be a contraction in the third quarter's GDP of approximately 0.9 percent, ... Given the slow start in October, the most likely scenario calls for a larger contraction in the 2.8-percent range in the fourth quarter.
Sung Sohn
Readers Who Like This Quotation Also Like:
Based on Topics: Economics Quotes, Reasoning QuotesBased on Keywords: spree
I was being called to surrender the very citadel of my self. I was completely in the dark. I did not really know what repentance was or what I was required to repent of. It was indeed the turning point of my life.
Bede Griffiths
No one has their own identity like the Ronettes did back in the day.
Ronnie Spector
The question we all face is what sort of culture we will live in for the rest of our lives and then hand on to the next generation - one that embraces these most basic of values, or one that collapses because of their absence.
Tammy Bruce