Consumer Spending Up, But Is It Good Or Bad
Consumer spending is closely watched because it accounts for two-thirds of total economic activity. Consumers put aside worries about slumping home sales and soaring gasoline prices and headed to the malls in November, pushing spending up by the largest amount in 3 1/2 years. Consumer spending surged by 1.1% last month, nearly triple the October [...]
All Signs Point To A Recession
The index of leading economic indicators fell for the third time in four months in November, signaling an increasing risk of a U.S. recession. The deepest housing slump in 16 years is likely to worsen as foreclosures mount and banks restrict lending, economists said. Declining property values and rising energy costs may also hurt consumer [...]
Why Its Time To Be A Bear
Financials SlideGoldman Sachs Group (GS). on Tuesday gave a cautious outlook for Wall Street in 2008 because of the ongoing credit crisis, even as the world’s largest investment bank chalked up another record-breaking year. During Q4, Goldman’s $3.17 billion profit was fueled by higher investment banking fees, one-time asset sales, and surprisingly strong debt trading [...]