Robert Brusca
Robert Brusca
economy-and-economics situation
This is a big leakage for our economy. We're at a very complicated situation with our economy.
economy-and-economics situation
This is a big leakage for our economy, ... We're at a very complicated situation with our economy.
built components main order orders particular picture showing
A lot of the main components are still showing weakness. We still have orders declining, and order backlogs haven't built up to any particular degree. This is the picture of a still-weak manufacturing sector.
consumers fine future worried
Consumers are conflicted. They feel fine for now, but they are worried about the future.
consumer control prices
consumer prices are really going to be under control, as well.
concerned fed fighting focused inflation
They are desperately concerned about maintaining inflation fighting credibility. So the Fed is not focused on inflation, it's focused on inflation in the future.
given poor report
The report is still a poor one given what has come before, but not terrible,
decline demand prices slack unless
Prices don't decline like this unless you've got a lot of slack demand conditions.
good growth job month private report sector thanks trends
Private sector job growth is still challenged. The report is not very good for the month alone, but the trends have actually improved, thanks to the revisions.
brother economic hiring job looking people sister
People don't look at economic data. But they know their own firm, they know if it's solid, they know if it's hiring and if people are getting raises. Even if they're not looking for a job, they know what's going on with their brother or sister or friend's job search. That's what makes these surveys powerful.
bigger deficit forecast foreign growth lower oil prices reasons relatively seems trade weak
The trade deficit seems to only get bigger and never recede. The reasons are clear, oil prices are up, foreign growth is still relatively weak and US growth is strong. There is no reason to forecast a lower deficit.
bigger deficit seems trade
The trade deficit seems to only get bigger and never recede.
bit economy economy-and-economics risks seems signs softness tone
The tone seems a bit hawkish -- he admits to little in the way of signs of softness in the economy or risks to growth.
consumer factors growth income line overall picks special spending tells trend unless
So while some special factors may be boosting spending, the overall trend of spending is well out of line with income growth. This tells us that this spending trend is unsustainable unless consumer income growth picks up sharply.