Commentary In the first quarter of...

Commentary

In the first quarter of 2004 the economic picture continued to brighten. There were signs that the resurgence in business activity and the stock market redemption might be sustainable, at least through the whole extent of the near term. Investors who took long-term views and waited without the recovery welcomed this turnaround, unless many others were left wondering where they had missed the boat. In particular, nagging fears of a weakening dollar, the record deficit, spiraling health care charges continued world unrest, and weak avocation growth placed a damper in succession widespread enthusiasm. This feeling was prevalent among the unemploy and filtered throughout to ...