CLOUDY CRYSTAL BALL

September 16, 2008
Michael Sheehan

Physician's Money Digest, June15 2003, Volume 10, Issue 11

Where the postwar economy isheaded is still anybody's guess.Positive signs like lower oil priceshave suddenly appeared less rosy, asincreased Israeli-Palestinian tensionsand heightened terrorist activityhave spooked the oil market.And gloomy job statistics show aneconomy that is slow to recover,shedding jobs instead of addingthem. On the other hand, consumerconfidence, usually a signal thatAmericans are willing to open theirwallets and buy, has reboundednicely from prewar lows, and thestock market's venture into theblack for the year has done a lot toimprove the market's psyche. Thekey is corporate spending, mostfinancial gurus say, and many predictthat the third quarter will showa budding recovery in that area.