keep in mind the definition of recession is negative real GDP growth for at least 2 quarters. Didn't we just have 4.9% real growth?? ROFLMAO Copters away!
LoL... Good answer. I would love to call out all those people who said there was no inflation and the CPI and core were accurate measures. Core has been proven to be a total joke with CPI not that far behind. Maybe the government is just tring to keep SS benefits low. If that's the case, I can't blame them for the manipulation.
It ain't gonna happen. Fearing the fear itself is a part of anxiety condition that grapples millions of people.
GDP is a lagging indicator, it takes a while for the trends to show up in the data. The Index of Leading Indicators was negative for Oct., Nov., and Dec. All the signs are shifting towards recession: unemployment at 5% and rising; retail sales are coming in negative (retail sales were negative in December!); the sharp drop in the ISM from 51 to 47.7 in December was a disaster.
gdp dropping under 2% second half of 2008 uneployment rises to 5.3-5.5% by second half of 2008. consumers make up 2/3 gdp, they are tapped out at this very moment. This will create for a significant drop in GDP over the next 12-18 months.