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Recession is here - economists

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posted on Feb, 5 2008 @ 04:05 PM
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Recession is here - economists


money.cnn.com

NEW YORK (CNNMoney.com) -- A growing number of top economists believe that the U.S. economy has now toppled into recession.

Alarm bells were set off Tuesday by a grim report on service businesses, which make up the majority of the U.S. economy.

The Institute of Supply Management said that activity in the service sector declined for the first time in nearly five years. This report also indicated that employers are cutting staff.
(visit the link for the full news article)




posted on Feb, 5 2008 @ 04:05 PM
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I work in a luxury store, kinda retail, and I have to say I have not seen the signs or recession. On the other hand, i have seen signs of the opposite. We are on track to having our best first quarter in ever. Although, our clientel is the rich, so...

money.cnn.com
(visit the link for the full news article)



posted on Feb, 5 2008 @ 04:09 PM
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i dont think its quite here yet. but here in about five or six months, i think it will be, if what the stocks are showing is correct. what you have to understand is that its only recession, not a depression. some get the two confused, and then panic.



posted on Feb, 5 2008 @ 04:11 PM
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I've always heard, "you don't know it's a recession, until you're well into one". From what I've seen in the grocery stores and supermarts, prices are consistently rising and it's costing alot more to do the usual shopping trips. I'd say we're already in the recession, just everyone isn't affected quite yet.



posted on Feb, 5 2008 @ 04:12 PM
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I work in a luxury store, kinda retail, and I have to say I have not seen the signs or recession. On the other hand, i have seen signs of the opposite. We are on track to having our best first quarter in ever. Although, our clientel is the rich, so...
.............................The rich folks Always have $$$ to blow...It's the rest of us that is feeling the pinch



posted on Feb, 5 2008 @ 04:28 PM
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Originally posted by mrmajestyk6309
.............................The rich folks Always have $$$ to blow...It's the rest of us that is feeling the pinch


yeah, but they usually hold back in times like these. Although, I have nothing to back that up. Who knows. I hope we can pull out of this.



posted on Feb, 5 2008 @ 10:50 PM
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We are seeing the same thing here in Atlanta regarding the food prices going up.

Gonna start shopping at Aldi



posted on Feb, 5 2008 @ 10:53 PM
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If the fed keeps cutting the rates the prices are really gonna start to rise due to inflation if they do keep lowering hang onto your hat!!!



Respectfully
GEO



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