Signs that the economy is on shaky ground piled up yesterday as it became apparent that consumers, reacting to the housing mess and gas prices above $3 a gallon, slashed their Christmas spending and major losses prompted more foreign bailouts of Wall Street titans Citibank and Merrill Lynch. (Washington Times, Wednesday)
It's still the same old story.
FEE Timely Classic
Interest Rates and the Business Cycle by Glen Tenney