Looking Up – Take a Deep Breath
Well, apparently, the economy just can't catch a break. Last week's report by the Labor Department on first-time claims for unemployment benefits was the worst in 26 years. For the week ending January 17, first-time claims were 589,000, a jump of 62,000 from the week before. Only a week in 1982 of 612,000 first-time claims was worse.
Yesterday's news about jobs was no better. Pfizer, Home Depot, Caterpillar, Sprint Nextel, General Motors, United Airlines, ING and Phillips Electronics, among others, Ml announced job cuts. This is in addition to...