Odds For Recession Increase

AP:

The unemployment rate leaps to a two-year high, record numbers of people are forced from their homes and Wall Street nose-dives again. Such is the fallout from a housing meltdown that threatens to slingshot the country into a recession.

The big economic question these days is whether the weakening economy will survive the strains or collapse under them.

The odds have grown that the economy will slip into a recession. At the beginning of last year, many economists put that chance at less than 1-in-3; now an increasing number says it has climbed to around 50-50. Goldman Sachs, the biggest investment bank on Wall Street even thinks a recession is inevitable this year.

Read the whole story: AP

Comments

[Harrier]

Frankly, I'm unsure the Feds have known what they've been doing for the last 6 years. They need to get off there asses and make up for lost time. I'm not sure why they let the housing crisis go for so long when everyone and their mothers were telling them there was a bubble that was developing and needed to be brought under control.

No way you can be that stupid by accident

[1man1voicenovote]

Peace and Prosperity are in short supply these days.