The recession is here... cross post from LBN

[nadinbrzezinski]

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3225317



Source: Yahoo finance

Most Economists Say Recession Has Arrived as Outlook Darkens
by Phil Izzo
Thursday, March 13, 2008
provided by

The U.S. has finally slid into recession, according to the majority of economists in the latest Wall Street Journal economic-forecasting survey, a view that was reinforced by new data showing a sharp drop in retail sales last month.

"The evidence is now beyond a reasonable doubt," said Scott Anderson of Wells Fargo & Co., who was among the 71% of 51 respondents to say that the economy is now in a recession.

The Commerce Department said Thursday that retail sales tumbled 0.6% in February; sales excluding volatile auto and parts decreased 0.2%. The decline reflected a sharp slowdown in consumer spending, the primary driver of U.S. economic growth, as Americans grapple with high gasoline prices and the credit crunch, as well as drops in home values and other asset prices.

Read more: http://finance.yahoo.com/banking-budgeting/article/1046...


Well folks it might finally be official...

Not that most of us don't know this

[RB TexLa]

1. Damn and here I am not giving people money for things (shopping) and investing outside of the US

Oh, well.

[nadinbrzezinski]

2. Sorry to ask, but do you have anything substantial to say?

There are days

[RB TexLa]

5. Just saying that is what whoever is in power (R or D) says to do when

there is a or a coming recession, don't save and buy 'Merican. And then when we come out of it they warn everyone that they aren't putting enough money into savings.

[mdmc]

3. I've been rolling my spare change so I can make bank deposits

for a couple months now:shrug:

[nadinbrzezinski]

4. Chances are that this bush economy will get worst

so time to frame this correctly...

Repeat after me, Republican Economics lead to Recessions and Depresions