We won't know what the trend is until we have several months behind us. |
We're seeing it already. If you look at Wal-Mart's numbers and strip out the effect of grocery-store sales, there are signs of stress behind the scenes there, ... What many of us are concluding here is that ... because of what is going on with energy, we will probably see a much softer fourth quarter. |
We're seeing it already. If you look at Wal-Mart's numbers and strip out the effect of grocery-store sales, there are signs of stress behind the scenes there. What many of us are concluding here is that ... because of what is going on with energy, we will probably see a much softer fourth quarter. |
When the economy recovers, the last place you are going to see it is in the job numbers. |
When you're an economist trained in conceptual stuff, you tend to be less intuitive. You fall back on this conceptual framework that the profession has invested a lot of time in. |