27 Quotes by Robert MacIntosh

Banks, bond investors and equity investors will ratchet down their idea of what's normal and acceptable as far as earnings and cash flows go,

This is what the Fed wants, they want housing to slow -- that is the place where they can most effect wealth creation and spending. The Fed is that much closer to being done. I think they are done after next week.

This is very good news from an inflation standpoint. I think it helps bonds because low inflation is good for bonds. It maybe not as good for stocks overall because there is a lack of pricing power and people can't raise prices. It will make the Fed less likely to raise rates.

It's not pretty. A lot of things just hit people today.

It's hard to fall any more if you're already on the ground,

It's probably a bit early to change the bias to neutral. I suspect they'll say there's still more risk of another downturn than there is for too much of an upturn. Maybe the next meeting is when you have them take away the cutting bias.

The number was a little higher than expected. I think the market will like it, but we are still talking about no growth here, and the trend is clearly down. The market is going to interpret this at first favorably, but a more rational interpretation is that it is pretty darn weak.

That's a function of companies wanting to feel confident that the economy is up and running again before they hire back. If they do want to ramp up activities, they do it by grinding more out of existing people.

They wanted to give themselves some flexibility, which they didn't have with that language.