Surveillance: Growth Snap Back with Golub
Bloomberg Surveillance
00:00
Can You Have the Cognac at the End?
Jonathan Gallup: This will be a rare year that earnings are down... I'm in the non-recessionary camp, but we can talk about that. He says it's because of margins. Revenues are up 4.5%; margins down 8.5; Main Street bad. Wall Street challenged Main Street. Last year, wages went up slower than CPI. So companies didn't have to pay higher wages, but they got to move on pricing. And so the consumer, the individual is better off this year relative to companies.
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