Consumer spending has been pulling the wagon for a while now. That won't be the case next year.

The consumer is not on a spending binge - consumer spending has moderated and I don't think there's a compelling case (to raise rates).

We'll see it ramp up this year and into next year.

We haven't had a single year of falling consumer spending since 1938. There's no boom or bust in consumer spending.

An undecided consumer simply means that he may soon begin to pull in his spending habits. Two-thirds of the economy is being supported by the consumer.

As long as housing prices don't go down, consumers have more equity they can borrow against. If mortgage rates go up another 1.25 or 1.5 percent and pierce 7 percent -- watch out. That's when the housing bubble bursts and consumers would cut back on spending a lot.