Now the water is rushing in.
"Economic gauge drops more than expected; Job loss, building slump cut into index" by Bloomberg News | September 19, 2008
New Orleans residents fill out applications for emergency food stamps last week after Hurricane Gustav. The storm also caused major job loss there. (Alex Brandon/Associated Press)
WASHINGTON - The economy was heading for a deeper slowdown than forecast even before this month's collapse in financial markets, a gauge of its future performance showed.
"The Wall Street crunch has definitely rolled over into Main Street," said Lindsey Piegza, a market analyst at FTN Financial, which correctly forecast the decline in leading indicators. "It's a very dismal picture all around."
Meanwhile, the tv is telling me everything is ok!
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