Word: snapback
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...bullish? Historical data indicate that consumers step up spending in the year following a recession's trough, says Canally. However, he concedes this year's snapback won't be as big as those following the last two recessions, since consumers currently face headwinds from high unemployment, the battered housing sector and frozen credit markets. "We're well into a jobless recovery, credit lines have been cut, and consumers can no longer use their houses as ATMs," he says. Nevertheless, Canally says, consumers are benefiting from last year's rebound in the stock market and higher consumer savings rate, which makes...
...result, hardly anyone is expecting a big snapback in the first quarter of next year. Then again, nobody really knows what to expect. There's far less consensus among economists about the first quarter than about the one we're in now. Some (Merrill Lynch's David Rosenberg is an example) think it will be even worse than the current quarter. Others (the majority) think it will be better. But none of that means very much, given that economists are close to hopeless at predicting that far into the future in times as tumultuous as these. It's the performance...
...sensible snapback from the Greenspan worship we had before. Was it really right for one 72-year-old man, fond of long baths and Ayn Rand, to have so much control over our economy? "What would you do if something happened to Greenspan?" a reporter drilled John McCain during the primaries. "Well," said the Senator, "I'd put sunglasses on him and prop him up like that guy in Weekend at Bernie's." By last week, it was clear many folks were finally ready to bury Bernie. And that is going...
...made me scared," I replied. "It's going down big." "Hah," she said. "That's the signal I need. When bulls like you run scared, I want to load the boat up. Everybody will be real negative by the end of the day, setting us up for a terrific snapback rally." Moment of hope. "When?" I said, hoping that my wife, known as the Trading Goddess (for her prescient days as a head trader), would give me a buy signal. "Now? Soon? What time?" The Trading Goddess spoke softly. "I will let you know. But it will come today...
...Tunnel of Love appears in stores this week, but anyone with a radio has already heard Bruce Springsteen telling what it is about. The first single from the album, Brilliant Disguise, floats easily in the air to a snapback, mid-tempo rhythm. It is like a silk scarf shading a lamp: the song throws off odd refractions of color and veils a 100-watt glow. The melody is sinuous, but the lyrics say something scary just at the end: "God have mercy on the man/ Who doubts what he's sure of." That is Tunnel of Love in two deft...