Jul 8, 2011

The Second Half Recovery Is Going To Disappoint On The Downside

If we don't have enough job creation there's not enough labor income. Therefore, there's not enough consumption and consumer companies are going to be depressed. Therefore, the recovery is going to remain weak. The markets are expecting now a robust recovery in the second half of the year. I think the recovery is going to disappoint on the downside. - in CNBC

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