Fear and loathing over economy spreads

Source: AP

WASHINGTON (AP) -- Fear and loathing is spreading as signs mount that the economy is in danger of losing its balance.

And a fresh batch of economic reports due out Thursday is likely to show more problems for the already stumbling economy.

Industrial production is expected to have dropped in September, underscoring the plight of troubled auto makers as well as manufacturers of furniture, construction materials and other goods that have been hard hit by the collapse of the housing market.

The number of new people signing up for unemployment benefits last week may dip slightly but is still expected to top 400,000, a level that usually points to an ailing labor market.




Read more: http://biz.yahoo.com/ap/081016/financial_meltdown.html

"the only thing we have to fear is fear itself"

I guess 'ol Frankie never, in his wildest dreams, could have imagined that we could have ended up with the gang of yahoos like the ones we've had lo these last years.

hopelessness, blah, blah, blah...

Fear of fear would actually be quite rational under these circumstances.