10,000 is an assault on Everest and we're at the last base camp. The stronger consumer spending is, based on higher stock prices, the more the chance we'll have a boom in the first half.

I'm going to get it from him when I get back to camp.

Worries of a housing-led consumer spending bust are overblown.

I'm going to hear it from Oscar when we get back to camp.

The cooling U.S. housing sector should apply a dampener to consumer spending as 2005-2006 unfolds, but some of this could be offset by still-decent job growth.

We had expected a snap-back in consumer spending after a decline in May, and that's what these numbers showed. Consumers appeared to be optimistic in their spending, despite the stock market and the ongoing corporate frauds and malfeasance.