Tag Archives: Housing woes

Signs of a slowing economy in the last few days appear to have taken Wall Street by surprise. Those of us closer to Main Street would say they haven’t been paying attention. Persistent unemployment and heavily indebted consumers have taken a toll on demand for months. That spells trouble with a national economy in which consumer spending accounts for 70 percent of activity. On July 29, revised economic figures showed that first quarter growth was just 0.4 percent and the second quarter wasn’t much better at 1.3 percent GDP growth. […]