Hard Slogging
I thought the recession was over. With all the euphoric news and the stock market 40% above its lows, you might think that. After all, company profits are higher than expected, and real estate shows signs of bottoming. But we're not out of the woods yet. The latest retail sales data show that rising unemployment is weighing on consumer purchases. And mortgage data now show that one mortgage loan in four is 30 days late or more. As people lose their jobs, they curb [...]