Tuesday, June 25, 2002

Consumer confidence reaches 4-month low "Consumer confidence declined in June to a four-month low, hurt by corporate scandals and concerns about jobs, a private research firm said Tuesday." "The New York-based Conference Board said its Consumer Confidence Index fell to 106.4 this month from a revised 110.3 in May. Analysts were expecting a reading of 106.0." "'Weak labor market conditions, generally soft business conditions and waning public confidence in questionable business practices have helped erode consumer confidence,' said Lynn Franco, director of the Conference Board's research center." 12:10:01 PM  Google It!  comment  []

The Reality Thing "But real problems, if not dealt with, have a way of festering. In the last few weeks, a whole series of problems seem to have come to a head. Yesterday's speech notwithstanding, Middle East policy is obviously adrift. The dollar and the stock market are plunging, threatening an already shaky economic recovery. Amtrak has been pushed to the edge of shutdown, because it couldn't get the administration's attention. And the federal government itself is about to run out of money, because House Republicans are unwilling to face reality and increase the federal debt limit. (This avoidance thing seems to be contagious.)" 11:53:29 AM  Google It!  comment  []