I think the US economy is the strongest in the world,said Sam Zell,Chairman and CEO of Equity Group Investments.We're likely to see improving scenarios.It's all about confidence.
The government doesn't create jobs.Jobs are created by risk-takers and businessmen.All these small businesses being starved of capital are the ones who create employment.
We monitor all our businesses.Certain ones have more relevance than others.When we see our main customers starting to delay implementation of long range plans,that's an indication of trouble.
Clearly the recovery of the housing market will increase employment.Yet Citi is cutting 11,000 jobs.If you end up with a swap,I'm not sure you're gonna end up with a net plus.
There is a little bit of momentum in the US,adds Sir Martin Sorrell,CEO of WPP Group.It's in retail,but corporates are increasingly concerned and uncertain.
Consumer spending has picked up worldwide.There is a fairly stable,even improving consumer spending regimen.It's retail,and the big branded companies continue to have traction.
Fast-moving consumer goods retailers and manufacturers in the middle got caught.There is a sort of dam of decisions.If there is a resolution of the fiscal cliff,there will be a significant shift in confidence and people will feel confident about 2013.
Chinese consumers have surpassed those in the US as the world's biggest purchasers of luxury goods.
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