“The bottom line is that the problem has definitely gotten worse. If this goes on much longer, it's not going to be just an investor concern, it's going to be a retiree concern.”
“We have already started to see some consumer resistance on high oil prices and this is obviously going to increase, and it will hurt consumer spending.”
“Oil prices are going nowhere but up and so we believe that earnings are going to go south. It does cast a doubt over whether earnings growth for the rest of the year will be at double-digit levels.”
