AmbergrisCaye.com Home Forums Belize Life News Warren Buffett . . .. . ..

Said today (on CNN) that "the recession may be longer and deeper that he first thought". We have been in a recession for at least 6 months. Most people know that, except the administration, which will only admit to a "Slow Down" Geeze

and remember Ross Perot when he said we would hear a big "sucking sound" as all the US jobs went overseas....and that gas would reach $4/gallon. Hmmm...funny the people who get ridiculed as nut jobs...

So....that's means I'm not crazy Barbara?

Technically nationwide we are not in a recession. A recession by definition requires two continuous quarters of reduction in growth. In fourth quarter of 2007, there was higher growth than the third quarter of 2007.

However, there are several parts of the US where they have locally been in recession... but it is nearly always the case that someone is in a recession somewhere.

Nationwide; fuel up, food up, unemployment up, utilities up, home foreclosures up. Interest income down, housing prices down, consumer confidence down, savings down. And, we havent seen the bottom yet. You are correct in that it takes two consecutive down quarter's for an "official' recession. I have spoken to a number of respected economists over the past several months and the consensus is, we are in a recession regardless of what the Fed says. Of course, that's just my opinion.

I'm not saying that this won't be called a recession after q2's numbers come in, but at this time, we are by definition in a slow-down and not a recession... You can't blame the government for being technically correct when they say such.

SIN, not IMO! ;-)

Well, if it looks like a duck . . . . . . . you know the rest

If it looks like a duck and tastes like chicken then it's tofu?

YUUUK !