Joel Naroff
Joel Naroff
acted activity carry downward economic economy looked production saw spiral wanting
Manufacturers are not fools, and they looked out over the economy and saw that economic activity had slowed dramatically, ... Not wanting to carry inventories, they slashed production and workers. They acted correctly, but the downward spiral has been set in motion.
bears economy points reached
There are seminal points in economies, and they're reached rarely, ... We reached one in the 1990s, and we will not go back to an economy that bears any resemblance to the one before.
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.
becoming economy
The economy is becoming a well oiled machine.
consumer drive economy spending
The fundamental economy is still solid, and the things that drive consumer spending are still solid,
affect change economy fine general heading impression minimal shape
The change was minimal and does not affect the general impression that the economy was in fine shape heading into the summer.
ahead collapse decent economy huge moving orders rebound shows
The huge rebound in orders shows that, not only did the economy not collapse in June, but it is actually moving ahead at a decent clip,
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.
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.
clearly expect prices reason wholesale
Wholesale prices are going nowhere. We don't have deflation, but clearly there is no reason to expect prices to jump.
adjustment december decline existing given home january pace robust sales sharp start strong trend
Given how strong January existing home sales were, the surprisingly sharp decline in January new home sales may be more an adjustment to the robust December sales pace than the start of a weakening trend in housing.
against bid businesses capacity choice creeping inflation pressures running
Businesses are running up against capacity constraints and have no choice but to hire, and that may bid up wages. Productivity is decelerating and inflation pressures keep creeping up.
boss cannot good worries
Basically, the new boss has the same worries as the old boss. For the markets, this cannot be good news.
basis cut movement rest shows yield
If they cut by 50 basis points, we may also see some movement down in the rest of the yield curve, ... If they cut by 25 basis points, I don't think it shows up in the rest of the curve.