THE ECONOMY: Good News for Bad

I was talking to a friend of mine the other day. He's got a good job, makes good money, but he said there is so much talk about recession that he isn't going to buy that new car he'd been planning to get.

—Dallas hardware dealer

A lot of U.S. jobholders were in the same wait-and-see mood last week as the Dallas hardware dealer's friend. With relatives and neighbors out of work, and reports of new layoffs on the front pages, confidence in the economy's health was still ebbing, and the ebb brought...

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