Economic Event | Period | Economic Survey | Actual Reported | Original Prior | Revised Prior |
Trade Deficit | DEC | -$48.5B | -$48.8B | -$47.8B | -$47.1B |
U. of Michigan Consumer Conf. | FEB | 74.80 | | 75.00 | |
Monthly Budget Statement | JAN | -$34.0B | | -$49.8B | |
EASTWOOD ON HALFTIME IN AMERICA:
EASTWOOD: THE AVERAGE MAN AND WOMAN ON THE STREET TOOK IT EXACTLY FOR WHAT IT WAS. AND IT'S THE CORE MESSAGE FOR AMERICA. IT'S HALFWAY THROUGH THE RECESSION, LET'S WORK OUR WAY OUT OF IT. IT DOESN'T MEAN ANYBODY'S ENDORSING ANYONE OR ANY PARTICULAR PRODUCT OR PARTICULAR PHILOSOPHY. I'M SURPRISED AT THE PEOPLE WHO ARE SUPPOSED TO BE INTELLIGENT HAVE INTERPRETED IT OTHERWISE BECAUSE IT'S VERY DISAPPOINTING TO SEE THAT BECAUSE THE AVERAGE PERSON SEEMS TO GET IT.
EASTWOOD: WE'VE BEEN IN A RECESSION FOR QUITE A WHILE NOW. AND, I'VE SEEN A LOT OF THOSE. I WAS BORN ON THE YEAR OF THE GREAT DEPRESSION., THE NOT SO GREAT DEPRESSION. BUT SO WE'VE SEEN A LOT OF THOSE. ... UNFORTUNATELY IN THE PAST COUPLE OF YEARS WE'VE BEEN SPENDING WAY OUT OF CONTROL. SO WE HAVE TO KIND OF GET THAT BACK IN.
EASTWOOD ON GOVERNMENT SPENDING:
EASTWOOD: THE LAST COUPLE OF REGIMES HAVE PUT US DEEP IN THE HOLE.. I DON’T KNOW WHY, ITS SUCH A BASIC THING.. YOUR PARENT ALWAYS TELL YOU IF YOU DON’T HAVE A DOLLAR IN YOUR POCKET YOU DON’T SPEND 2-DOLLARS.. AND THAT’S A BASIC PHILOSOPHY OF LIFE.. BUT SOME PEOPLE THINK YOU CAN PUT IT OFF.. IF YOU PUT IT OFF THEY PRINT MONEY, THAT MEANS THE MONEY IN YOUR POCKET IS DEVALUED AND ITS NOT WORTH AS MUCH AND AT SOME POINT COMES DOWN TO ZERO.
ESTWOOD ON SIMPSON-BOWLES
EASTWOOD: YEAH I LIKE THE IDEA. I WAS KIND OF AMAZED THAT THEY TOOK SIMPSON-BOWLES AND ASSIGNED THEM THIS RESEARCH AND THEY COME BACK WITH A RECOMMENDATION WHICH WAS EXACTLY STOP SPENDING. AND THAT EVERYONE SAID – THAT’S ENOUGH FROM YOU GUYS. GO HOME
QUICK: THEY SPENT SOME SERIOUS TIME…AND BEHIND THE SCENES THEY ARE BOTH UPSET.
EASTWOOD: I DON'T KNOW WHY THE CURRENT ADMINISTRATION ASSIGNED THEM TO IT IF THEY WEREN'T GOING TO PAY ANY ATTENTION TO IT. OTHERWISE, THEY'RE JUST WAITING TO HEAR WHAT THEY WANT TO HEAR. THEY CAN ALWAYS GET PEOPLE TO DO THAT. ONE IS A DEM ONE IS A REPUBLICAN AND THEY BOTH CAME TO ONE CONCLUSION.
John Broussard
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury
Ph: 225-342-0013
Fx: 225-342-9721
Email: jbroussard@treasusry.state.la.us
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