pairadox

This Recession's Not That Bad - And We're More Than Halfway Through

Last week the WSJ reported China's 2009 estimated GDP would decrease from 9 to 7 %. This week syndicated articles decrease the estimate further- from 7 to 5 %. India is also falling deeper into recession. Those were the two countries that were suppose to grow and pull the rest of the world out of the pits. This recession is world wide and is hardly comparable to the previous two. Wall Street investors believe the worst is over and we're on the way to recover because as far as they're concerned, recession is a non-event, but something they read about in the news; bad news can easily be ignored. Rally on! They're the only one's who can afford it. When the king of spin admits that we've been in recession for the last year, you'd better worry. Whether you chose to call this recession or depression- it makes no difference- it's going to be around a lot longer than you ever imagined.