After-hours traders punished Dell (DELL) stock Thursday, following a weak third quarter earnings report from the technology giant.

Going into the afternoon earnings release, analysts had been expecting to see the company show earnings of 28 cents per share. Actual earnings came in much lower at 23 cents per share.

Although some members of his administration don't hold Fox News in too high of regard, President Barack Obama did sit down with the news outlet to discuss the economy. In the interview, President Obama offered what some are calling his "sternest warning" about containing deficits. President Obama believes that a further compilation of government debt could lead to a double-dip recession.

The president believes that his administration faces a "delicate balance of trying to boost the economy and spur job creation," but the administration has to set the economy on "a path toward long-term deficit reduction." He noted that it is important "to recognize ... that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession."

When the space shuttle launches on Monday, 200 thumbs will be at the ready. NASA has deputized 100 of its top fans on Twitter to come to the launch and tweet the experience. These fans are estimated to have more than 150,000 followers, all with the potential to retweet the messages they see. Every click of an iPhone or Blackberry will give NASA more exposure, building the excitement it needs to keep the operation afloat. So, whether you realize it or not, the launch is being brought to you by Twitter, Apple (AAPL) and Research in Motion (RIMM), even if only implicitly.

There's always good news, if you're willing to look hard for it. So, even though consumer sentiment dropped as unemployment rose, you can find the seeds of economic recovery in some of the U.S. import and export data reported recently.

Consumer sentiment fell early this month, largely because of the grim outlook for the job market. Consumers don't see a recovery coming anytime soon, with economists saying that unemployment has yet to peak despite having hit 10.2% already. Hopes edged higher in September when imports were seen to be on the rise, but sentiment starts and ends with jobs.

Monday, the Dow Jones Industrial Average set a new 2009 high, trading above 10,225. GDP growth came in at 3.5% for the third quarter.

However, what we are experiencing is a disconnect between Wall Street and Main Street. Last Friday, the Labor Department reported that unemployment is now above 10%. Consumer spending for September fell .5%, the biggest drop since December 2008.

To say the current economic climate has been "thin on good news" would be an understatement.

But here are two data points that represent definite uppers: first, monthly job losses have declined to about 190,000 -- still large and unacceptable, using any macroeconomic model, but light years away from the 500,000 and 600,000 monthly job losses that characterized the financial crisis' acute stage earlier this year.

Consumer borrowing fell for the eighth straight month in September. This record-setting streak is due largely to tightening by lenders, unemployment and the conservative preference to pay down debt rather than spend. This widespread fit of fiscal responsibility, economists fret, could prevent a recovery from taking root, since consumer spending is responsible for 70% of the U.S. economy. This conventional thinking, of course, overlooks the fact that an eventual increase in spending that isn't fueled by consumer spending will yield a recovery that's more likely to last.

According to the Federal Reserve, borrowing fell at an annual rate of $14.8 billion in September -- it's biggest drop since July and much larger than the $10 billion predicted by economists. The behavior is exactly what you'd find in people worried about losing their jobs or focused on rebuilding safety funds and investment portfolios. Those who want to borrow are finding banks won't be complicit this time, as they clamp down on lending practices.

Work smarter not harder. Do more with less. Increase your output. Become more productive.

You've heard all this before, right? What it all means is that layoffs are coming, and the survivors are going to have to take on a hell of a lot more work, with no increase in support, resources or compensation. As cuts come, the survivors fight to survive, and succeeding means that a new benchmark is set. If you can survive without the help you used to have, it's easier to defer hiring for a while.

The National Bankruptcy Research Center reported that there were 135,914 bankruptcies in October, up 9%. One third of the bankruptcies were filed under Chapter 13. Chapter 13 requires that the court set up a five year repayment plan for debts owed.

In addition business bankruptcies were up 7% for the same period.The forecast is for 1.4 million bankruptcies in 2009, the highest since 2005. In that year Congress revamped the bankruptcy laws to make it more difficult to wipe out all of a person's debts. There was a rush of filings in the months just before the new law was enacted.

Do you see a rebound?

The Mall of America would be a great practice field for the Minnesota Vikings, fall and winter clothes are already 40% off at Macy's, and the Palms in Vegas is mailing me coupons.

Recently, I went out to eat with some friends: One owns a construction business that has come to a standstill; two are media types out of work; and one is the owner of a small manufacturing company, who is laying people off as fast as she can and is now worried about her own survival. And I'm sure you've heard similar tales of woes from your family, friends and neighbors.

The Commerce Department reported Tuesday that housing starts rose a bit in September, helped by a rise in single-family home construction, but this bit of good news came with some bad news that applications for new home construction were down in the month.

According to the report, construction of new homes and apartments rose by 0.5% in the month, to an annualized rate of 590,000 units. While any growth for housing starts comes as good news in the current market, it is not as good as it appears at first glance, considering that analysts had been expecting to see the annualized rate increase to 610,000 units.

The recession is only over if you ask the right people. While some sectors are starting to see the light at the end of the tunnel, consumers remain concerned. It may be tempting to listen to the experts over the average Joe, but the former don't control 70% of the U.S. economy. So, as long as people are worried abou unemployment (which continues to rise), the levels of debt they carry and whether they're at risk of foreclosure, the recession will live on in the hearts of those who write checks and swipe credit cards.