Joel Naroff
Joel Naroff
costs earnings further input limited pressure pricing rise sharp
The sharp rise in input costs can only further pressure earnings in those sectors where there is limited pricing power, which is still most of the economy.
cause housing key major rates risen sector supposed
Housing is the one key sector that is supposed to be interest-rate sensitive, but at least so far, rates have not risen enough to cause a major retrenchment.
confidence despite remains
Despite the faltering confidence numbers, consumption remains strong, and that is all that really matters,
buy confidence message people sending willing
If people are willing to buy big-ticket items, the message they are sending is that they still have confidence about the future,
across building pressures
Slowly, but inexorably, inflationary pressures are building across the economy.
extra fed insurance june looks report wants
The Fed wants to see results, and this report didn't give it to them, ... It looks right now as if the Fed will take out some extra insurance on June 25.
condition confidence continue failure firm levels markets near questions raises remain september true
If the markets continue to firm in September and confidence does rebound, then we will have dodged the bullet, ... But the failure of confidence to remain at least near July's levels raises some questions as to the true condition of the economy.
housing mother nature slow
Not even Mother Nature can slow the housing market.
act carefully equity issues markets prepared remain risks watching
They're going to say they're carefully watching the issues in the equity markets and are prepared to act if necessary, but right now the risks remain balanced,
amount concern economy fed force indicate large likely maintained momentum numbers obviously
The numbers we're getting all indicate that the economy has maintained a large amount of momentum and that's obviously a concern to the Fed and will likely force their hand.
buying decline demand forget june level market mortgage people rates showing sign wonder
Forget the decline from the June pace. What is important is the level of activity, and that is extraordinarily high, ... This market is showing no sign of weakness. With mortgage rates so low, it is no wonder that people are still out there buying homes. And with demand strong, construction is not going to fail.
cannot conclude consumers few given previous spent touch weather
Consumers may have throttled back a touch in February, but given the weather and all they had spent the previous few months, we cannot conclude that consumption is faltering.
bunny deficit describe growing keeps small steroids term trade
The trade deficit, if you can still use the term deficit to describe the GDP of a small country, just keeps getting wider. This is the Energizer bunny on steroids as it keeps growing and growing and growing.
causing high house people prices pull question turned twice
Some people are being turned off by the high house prices and they just can't pull the trigger. Without question that's causing some people to think twice about buying.