Bernard Baumohl Quotes
The stress on household finances in coming weeks will be the greatest since the last recession in 2001. 
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Stress | Household | Finances | Coming | Weeks |
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[( TIME.com ) -- Great news! Unemployment is up. Wages are stagnant. Hiring by U.S. companies is down for the first time in more than four years. But there might be some help wanted on Wall Street soon, because Friday's unemployment report is the stuff rallies are made of. Just a half hour into the trading day, the Dow was up 175 and the NASDAQ almost 200 (with inflation-fearing bonds whooping it up right alongside them) as investors saw visions of the long season of economic overdrive, interest-rate hikes and neurotic markets drawing to a close.] This is the latest sign that the economy is slowing down, and because these are labor numbers, they're going to have particular weight with the Fed... This is the kind of news that could take some of the uncertainty out of the markets and get stocks going up again.
- Bernard Baumohl
