Report from Main Street | We've been in a Recession for the past year...

I'm going to step out on a limb here and say that for most people, we've been curbing our spending for the past year. There's something about $4/gallon gasoline and rising food prices that kinda puts a crimp in getting the fun little extras for yourself and your kids. So, I would like to notify all those economists out there [and government officials] -- we have been in a recession and probably by the time things start getting better, you'll finally admit it.

My personal opinion is -- as the price of gas goes down and if food prices should recede a bit -- the American lifestyle of spending will return. I'm going to go out on another limb and say that the Christmas season my not be as bit as years past, but it will be within single digit percentage points.

But just in case you live your life by the news, and need further evidence that the world is going to hell in a handbasket - then read the following news items from Google News...

Weak US output, job market point to recession
Forbes - 49 minutes ago
WASHINGTON (Reuters) - US industrial production posted the biggest monthly decline since 1974 while consumer prices were flat in September, according to reports Thursday that built a compelling argument for more interest rate cuts to slow a steep ...
Inflation in US Wanes; Consumer Prices Unchanged (Update1) Bloomberg
Inflation Pressures Eased in September Wall Street Journal
International Herald Tribune - Reuters - BBC News - Financial Times
all 541 news articles »

1 comment:

  1. Total redesign on the site accoplished in the last couple days. Let me know what you think.


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