Entries for February 28, 2007

Does Wall Street's swoon mean there's a recession on the way? I think JPMorgan economist Jim Glassman summed up the current situation pretty well to me late yesterday: "The question is, does a recession seem a plausible scenario in the current circumstances ... with inflation near post-World War II lows, corporate profit margins at record highs, an unprecedented global awakening underway, financial signals [credit spreads] still at good-time lows? Please!"