Recession or No Recession: Who Do You Believe?

The Wall Street-Washington nexus either thinks there is no recession or is already anticipating the next upturn in the economic cycle.

Meanwhile, ordinary working folks and those who are trying to keep their businesses humming, or even afloat, are seeing no real evidence that conditions are improving, and are wondering just how bad things are going to get.

My question is: who're you gonna believe?

Based on the following report from Investment News, "Recession Is Upon Us, Americans Say," I'll be sticking with the views of the latter group, which has been right all along.

Comments

[sliman:]

Look for Panzer's book in the $1. bin at your local book store. Enough said.

2008 May 07 10:19 AM

[drmalaka:]

I believe that the economy is worse that most believe but can not strictly point to consumer beliefs. We are being drowned in negative economic news by the main stream media because of their immense left wing tilt. They want Obama Bin Laden to win the election and blaming the Republicans for a horrible economy helps.

On the other hand, I believe that things will not improve, they are not horrible right now, and will probably not get super horrible, but I do believe they will get worse. Just not NY Times or NBC worse.

2008 May 07 12:11 PM

[Jason Rines...:]

It's all a house of cards that will bust. Our entire U.S. economy, one big giant bubble. But America will go through a new massive bubble lasting a good long time after the bust in my opinion. The American public have no idea what is really going to hit them.

2008 May 07 11:16 PM

[SeekingAlph...:]

What a load.

2008 May 08 12:51 PM