Signed, Sealed, Delivered It’s a Recession

No ifs ands or buts about it, the U.S. economy is in a recession. In February the economy lost 63,000 jobs, after losing 22,000 jobs the month before. A recession has never failed to follow two consecutive months of jobs loss. And not just construction jobs were lost—manufacturing and retail jobs disappeared as well.

Investment houses—Goldman Sachs, JPMorgan Chase, Lehman Brothers, and Morgan Stanley—and Warren Buffet, the sage of Omaha and the world’s most successful investor, have already declared the economy in a recession.

When the Business Cycle Dating Committee of the National Bureau of Economic Research,…the research organization designated by the Commerce Department [Read more...]

by John Miller | www.dollarsandsense.org