More Bad Economic News
January 11, 2008 by Miranda Marquit
Filed under Finance
Your personal finances may be in greater need of help as the recession approaches. Yesterday Fed chair Ben Bernanke talked to Congress about economic news. The man doesn’t often parse words, and what The Australian reports of Bernanke’s report is no exception:
“A number of factors, including higher oil prices, lower equity prices, and softening home values seem likely to weigh on consumer spending as we move into 2008.” These things might get worse. The latest report on jobs growth was disappointing, and if workers begin to fear for their jobs, confidence will fall further.
Next week I’ll be resuming a look at tips from Paul Farrell to help you beat the bear market. It looks like we’ll be needing them.
