Optimists on the U.S. economy have conceded that things are weak, but they've argued we're not falling off a cliff.Get ready for President Bachmann and similar disasters.
But on Thursday, Wall Street got a hint that a cliff dive could be imminent.
Philly The Philadelphia Federal Reserve Bank’s index of economic activity in the mid-Atlantic region plummeted to a negative 30.7 this month, down from a positive 3.2 in July and the lowest since a negative 30.8 reading in March 2009 -- in the depths of the last recession.
Thursday, August 18, 2011
Philly Phed Phalls
The Federal Reserve Bank of Philadelphia's index of economic activity just fell off a cliff:
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