- Economy Crimps American Vacations (MSNBC): “A survey by online travel booker Expedia.com shows that people plan to take 10 percent less vacation time than in 2002. The survey says the average American worker gets 16 days off a year but actually takes only 14 days. The reason for the vacation gap: It’s the economy, stupid.”
- Old Dogs, New Tricks by Gary North (LRC): “Interest rates have fallen in response to (1) the recession and the weak post-recession recovery, and (2) Federal Reserve monetary inflation, the American consumer has loaded up on new debt. Because he can now afford to finance more debt because of lower interest rates, he has leveraged his income. He has bought more consumer goods, especially housing, with the same income because he has been able to borrow more money at lower rates.”
- Could Bonds Snuff Stocks? (CNN): “Maybe the reason stocks have had such a hard time gaining ground recently has less to do with worries about the economy or future earnings growth than it does with the spike up in interest rates.
- Linked from North, two JEC charts comparing job data in current and previous recovery periods.
Posted by Mises.org News
