Last week, the Commerce Department announced that the economy contracted a bit more than originally estimated during the third quarter of this year. Naturally, that has made a lot of people very nervous. Right now, all eyes are on the 2008 holiday shopping season as the closest thing to real-time economic indicators as we are [...]
With everybody in Washington seemingly in hysterics about the antics of the financial markets, it’s pretty easy to forget that fixing that probably won’t fix what ails the real economy. What ails the real economy is fairly simple (although it is possible to complicate the explanation in any number of ways). Consumers are tapped out. [...]
Since it’s going to be October before the week is out, it should come as no surprise that retail industry types are starting to talk about those all-important fourth quarter sales and, specifically, about the upcoming holiday shopping season. And, since most of the economic news seems pretty dismal these days, you might expect early [...]
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from The Journal Blog