Friday, July 27, 2007

The Dow, the Economy, and the Polls

Although the Dow has famously predicted 9 of the last 5 recessions (to quote Paul Samuelson), there seems to be a growing unease about the latest 'correction.' Whether or not a slowdown is coming (and the Commerce Department reported this morning that growth in the second quarter was on a 3.4% annual pace), the economy is the last pillar of whatever popularity President Bush still enjoys. If the economy tanks, it's look out below.

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