The consumer has finally been shaken. If folks are unsure what the future is looking like over the next few months, they tend to hunker down and sit on cash, and that's not a good start to the holiday shopping season.

There is still a lot of momentum left in the job market.

Last week, chain-store sales came in pretty strong. But if you stripped out gasoline sales from Wal-Mart and Costco it really showed us that consumer spending had started to weaken on a fundamental level.

This data supports the idea that payrolls will be strong again in August. At some point employers are going to cut back on hiring if they can't pass along these higher energy prices. The fact that claims are still so low suggests that's not happening yet.

The educator must above all understand how to wait; to reckon all effects in the light of the future, not of the present

in a woman's womb.
another chance.
to make the world better.