One year ago, on July 3, 2008, oil prices settled at a record high -- a once-unthinkable $145.29 a barrel
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It looks like someone may have sprayed a healthy dose of Ortho Weed B Gon on those economic green shoots.
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Stocks tumbled Thursday, with the Dow losing 212 points, after a worse-than-expected jobs report hammered hopes that the economy is close to stabilizing.
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Bond prices turned higher Thursday after June job losses in a government report were much worse than expected, shaking recovery hopes.
U.S. stocks were poised to open lower Thursday, the end of a holiday-shortened week, after the release of the government's monthly jobs report.
Stress tests. Massive government interventions. Speculation that the government would nationalize Citigroup and Bank of America.
Last I checked, the economy's still in recession, unemployment is rising, and consumers are having trouble paying their bills. But you wouldn't know this from looking at what's going on in the credit card world lately.
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