That (pulling back on lending) is a lot of what you're seeing now. Then you exacerbate the situation by having skyrocketing energy and health care costs, and you start to see why businesses may not be investing as much as we originally thought they would. |
The economic numbers were nothing less than sweet. The markets were skittish about escalating energy prices, and that never seemed to recede, even though the economy ignored that and ran. |
The economy will expand by 3 percent from here on out, and we will have growth in jobs of about 100,000 to 200,000 per month, and that's it. Get used to it. |
The manufacturing expansion is running out of gas, |
Torrid economic growth normally results in torrid job growth. And that will probably flash red for Fed-watchers. |
What you're seeing now is a robust economy carrying a great deal of momentum into the second quarter. |
When you put all these little pieces together, you get a bigger drag, and that's what's taking the toll. It's the culmination of all these little things. |
You can't deny it was impressive and desirable. But at the same time you have to throw in unsustainable. |