Delos Smith
Delos Smith
concerns darkness parts
There are parts of the world that are in darkness and that concerns me.
economic function largest longer major market state systems
There are no longer really state economic systems that can function by themselves. Most of our largest corporations are in every major market in the world. We're intertwined.
adjust consumers economic economy economy-and-economics growth mean view
We boosted economic growth in one quarter, but that doesn't mean it's sustainable. We still have a long-range view that the economy is changing, and consumers will have to adjust to it.
good nervous year
We had a very good year in 2005. But it was a nervous world.
eat expenses movies normally people theaters
We're going to see people trimming their expenses here and there. They probably will not eat out as much or go to movies as often as they normally would. So restaurants and theaters are also vulnerable.
happened last moderate shows steady
When you take a look at what's happened in the last month, you see the same kind of pace?right on down the line. It shows a nice, steady moderate pace, which is what you want.
consumer defensive nervous uncertain
You do have a defensive consumer. If the consumer is very nervous and uncertain about what is going to be happening, you don't know how they're going to react.
certainly low mean report start takes time turning
When it's as low as it was, it takes time to start turning it around. Today's report doesn't mean there's a boom, but it certainly is encouraging.
absolutely pressures price
There are absolutely no price pressures in our system.
certainly consumer effect gas mean negative numbers prices retail sales seen weekly
We haven't yet seen the negative effect of gas prices on consumer spending. It's certainly not here in these numbers. That doesn't mean it's not there. Certainly the weekly retail sales numbers have been sluggish.
The PPI is just perfect. This is just what we wanted.
biggest empty market people
It's the biggest market we have, because people don't live in empty houses.