Monday, April 14, 2008

Oof, maybe not so short!

CNNMoney:
"We have a deadly combination of commodity price inflation and credit contraction," said University of Maryland economics professor Peter Morici. "It's tough to imagine a worse combination. In a worst case scenario, the recession could last several years."

Friday, April 4, 2008

Recession:another believer

80,000 jobs lost in March. January and February revised to 76,000 losses...each.

CNNMoney.com reports:
==============================================
The Labor Department now estimates that the economy has shed 232,000 jobs in the first three months of this year.
"The revisions are the real surprise in the report," said John Silvia, chief economist for Wachovia. "If we had known it was anything like that, there would not have been any debate going on about whether we were in a recession. It's pretty stark."
===============================================
I wasn't debating, except for the technical definitions.