Gun, Germs and Stall?
by Paul Krugman

Over the last two weeks, nobody has been paying much attention to economic news; even the ups and downs of the Dow have reflected reports from the battlefield, not the boardroom. But the economic news is quite worrying. Indeed, the latest readings suggest that our recovery, such as it is, may be stalling.
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Jobless Claims Rose by 38,000 to 11-Month High Last Week

The number of U.S. workers filing first-time applications for unemployment benefits surged to an 11-month high last week, suggesting the country's labor market weakened as the U.S. military swept into Iraq.
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  thanks to Eschaton