This news is seen as a positive because we lost fewer jobs than most economists expected. There are also a rash of related upbeat stories around the web today. However, I remain skeptical. For one thing, we still lost jobs. For another, there is considerable underlying weakness in our economy. Housing and inflation being the two chief culprits.
That said, oil is coming down a little, the rebate checks are on the way, and Wall Street seems to be finding it’s feet. How are you feeling?
Me? I think this is the calm in the eye of the storm.
Friday, May 2, 2008 at 3:50 pm |
I think we have seen the worst and are headed back up.