Tuesday, January 08, 2008

Hang On

A lot of folks, including me, have been warning of a looming recession.
The Whitehouse, of course, has been denying it out of hand. They can't have any negative scenario's leave a stain on Stupie's tie.
Well it's here.

Recession in the US 'has arrived'

Workers erect scaffolding in Albany, New York
Merrill said Friday's employment figures confirmed the recession
The feared recession in the US economy has already arrived, according to a report from Merrill Lynch.
Significant decline'

An official ruling on whether the US is in recession is made by the National Bureau of Economic Research, but this decision may not come for two years.

The NBER defines a recession as "a significant decline in economic activity spread across the economy, lasting more than a few months".

It bases its assessment on final figures on employment, personal income, industrial production and sales activity in the manufacturing and retail sectors.

Merrill Lynch said that the figures showing the jobless rate hitting 5% in December were the final piece in that puzzle.

"According to our analysis, this isn't even a forecast any more but is a present day reality," the report said.

Get this, this article is from the BBC.
The shit is going to hit the fan during Stupies death throes of a Presidency and they are going to deny it like a condemned man at midnight on execution day.
The Bush legacies last words?
"Don't kill me, please".


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