It's Official: U.S. In Recession

It's Official: U.S. In Recession

www.forbes.com

Well, if you needed an official stamp of disapproval on the U.S. economy, it came Monday: the National Bureau of Economic Research, a private group charged by the government with determining America's economic cycles, said the country has been in a recession since December 2007.

(visit the link for the full news article)

I dont think there is one member on this site that doesnt think the US is in a recession, most of us have for months.

But at least now we don't have to listen to the media and politics stumble all over the question.




The media has been so afraid to use the "R" word even though we could see the country stumbling around us.
Now that its official that we're in a Recession, lets see how long it takes until the "D" word starts getting tossed around while the govt makes up its mind whether or not we're heading to a Depression.

New data on Monday did not point to happier days being here again. The Institute for Supply Management said its index of national factory activity fell to 36.2 in November from 38.9 in October. The drop brings the index to its weakest point since 1982, when the United States was also in a recession. Adding insult to injury, the reading was still below Wall Street's already dour 37.0 forecast.

www.forbes.com
(visit the link for the full news article)



[edit on 1-12-2008 by Odessy]

reply to post by Odessy


haha as if the U.S. population didn't already assume so ... except for those who are ignorant and believe the us is in perfect condition