Friday, June 20, 2008
Economy Limping Along
According to the leading indicators, it shows the economy is limping along. That is because of higher fuel and food prices, tighter credit and a depressed housing market. Also, the number of newly laid-off workers filing for unemployment benefits remained at worrisomely high levels, although it dropped a bit last week. Economic indicators rose 0.1 percent in May and matched April's 0.1 percent advance, but the Conference Board revised March's number down from 0.1 to zero.
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I'm usually pretty optimistic, but I don't see the economy getting better any time soon. I really think that the government's idea of a quick fix (economic stimulus) was an insult. Most people these days need a lot more than $600 to help with outrageous price increases at the pump and everywhere else.
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