John Irons's Blog


Economic News, Data and Analysis

Economy Sends Off Warning Flares

So, I’m usually an optimist. But the current economy ain’t lookin so good. Here are my notes on the slowdown from 2 weeks ago, and additional data seem to be adding fuel to the recession fire (see NY Times link below).
I would strongly suggest that congress and presidential candidates begin to think now about what it would take to provide a fiscal stimulus (Bush seems otherwise preoccupied). We don’t need to jump right away, but we need to have a plan in our collective back pocket if needed.

Economy Sends Off Warning Flares – New York Times

Crumbling consumer confidence and slumping home sales could prove to be a bad combination for retailers, and for the broader economy going into the holiday shopping season, if the labor market contracts further and chokes off spending, economic data showed Tuesday.


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