Good Day, Bad Day
The bigger picture, reliving the past
GOOD DAY FOR: The bigger picture, as 74 percent of Americans think the country is in a recession, according to a CNN poll, despite assurances from some economists. People said they are cutting back on food, medicine, and travel, amid higher prices. “What they’re describing is different from a recession,” said Wachovia economist Mark Vitner, but rather inflation and general “tough economic times.” (CNNMoney.com)
BAD DAY FOR: Reliving the past, as Wall Street banks have cut more than 34,000 jobs in the last nine months, the most since the dot-com bust in 2001. And some firms haven’t disclosed their layoffs yet. “They’re all dribbling people out the door, so the numbers don’t show the true extent of the problem yet,” said Jo Bennett at executive search firm Battalia Winston International. (Bloomberg)
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