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Originally Posted by Poker  We are in a recession. You won't hear many people say it because they don't see it yet and you won't hear the government say it because they don't want you to know it or to make it worse and they won't usually talk about it until it's over.
By the way are you better off now than you were four...errr I mean 7 years ago? | I am better off since Bush has been president thank you. The media plays up the idea that were in a recession for ratings of course. I think the subprime mortgage mess was way over played. Banks have written off about $150 billion in bad loans. Now 150 billion sounds like a lot but it only represents 1% of America's GDP and a little less than 1% of the market capitalization of U.S. stocks.
So in summary I would say not to worry to much. We may have a very mild recession as long as the media and politicians don't make to much of a fuss about it.
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"The government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."-Ronald Reagan |