Entries for March 30, 2007

Remember how one of James Baker's rationales for the Persian Gulf War, beta version, back in 1991 was "jobs, jobs, jobs"? See, that's pretty much the heart of my amateur rationale for why I think the economy will avoid a recession this year despite all the fears about housing. Jobs, jobs, jobs. Well, to be exact, jobs and income. Consider the following, and see if you agree: