ByELIZABETH TROTTA
It was another> up-and-down week for economy watchers.
The week got underway after Dubai World shook up some underlying assumptions about the state of the world economy. But those worries abated, and Friday brought a far-better-than-expected unemployment report.
In the markets, neither the bulls nor the bears are backing down as year-end approaches. Stocks rose and fell and rose again, and traders seemed restless.
Meanwhile, things got heated in Washington, as the president broke out new initiatives on job creation in the same week he committed more troops to Afghanistan. On the Hill, the Federal Reserve chairman faced some scrutiny at a Senate hearing over his reappointment.
Next week brings the Fed s October readings on consumer borrowing and the trade deficit. On the consumer side, traders will get a look at the preliminary reading of the December consumer sentiment index, as well as the November retail sales numbers, both of which should offer clues about the direction of the holiday shopping season.
For now, here s some weekend reading to help you put the latest from employment to housing to Dubai in perspective and take stock of the economy.
November Jobs Report Surprises With a Decline
The Department of Labor delivered one of the biggest surprises of the week; the unemployment rate fell to 10% and nonfarm payrolls declined far less than expected. What s ahead?
New Efforts to Stem Foreclosures Face Hurdles
The Treasury Department announced a new effort to support its foreclosure-prevention battle, but it might not be enough to stymie the wave of expected foreclosures.
Did Dubai Signal the Next Bump in the Road?
While Dubai World s troubles may be a more localized matter than originally feared, they might signal a wave of trouble for commercial real estate.
Own Bonds? Dubai Is Your Wake-Up Call
SmartMoney columnist James Stewart says the Dubai World s debt crises may serve as a cue to investors who ve poured money into risky fixed-income categories that it s time to rebalance.
Things Could Get Ugly for Bernanke
The Federal Reserve chief faced a hostile Senate Banking committee for his confirmation hearing.
Tale of the Tape: Bear vs. Bear
Two of Wall Street s most famed bears are giving bleak and disconcerting predictions for the economy is anyone still listening?



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