The economy might be more stable but it can always turn in a moment

The Week in Review:

Most of the news this week has been based on events other than economics. Between Michael Jackson’s death being ruled a homicide and Senator Ted Kennedy’s death, it can be easy to overlook the general feeling of optimism towards the direction the economy is taking. As everyone knows, the economy might be more stable but it can always turn in a moment. There are a lot of major economic reports this week, some of which bring moderately good news, others which bring very good news.

There are a lot of indicators that seem to suggest that most of the world’s major economies could be moving out of recession by the end of the year, but since we’re close to the beginning of the American football season let’s use an NFL analogy: the kick off has been returned to the 20, but it’s still a long way to the end zone.

The cash for clunkers program is coming to an end, although there is some discussion of a similar program for home appliances coming up next - although this is only rumor at this point and is a long way from solid.

Still, there are plenty of major economic reports this week, and it’ll take some time to go through them all. So without any further wait, here is this week’s “beginning recovery special” of the week in review.

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