The Lehmann Letter (SM)
Today’s stock market rout focused on the weak labor market.
In this letter’s view, the housing slump lies at the center of the economy’s problems. But some believe a turn-around is imminent.
A front-page story in today’s Wall Street Journal presented the problem:
http://online.wsj.com/article/SB10001424052702303657404576357170425058088.html?mod=ITP_pageone_0
A front-page story in the NY Times’s business section shared the views of those who think housing is about to break out of its slump:
http://www.nytimes.com/2011/06/01/business/01housing.html?_r=1&ref=todayspaper
We’ll see.
© 2011 Michael B. Lehmann
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