Recession is an ugly word for politicians, and most of whom can be trusted to not utter it at all. So goes our President Ostrich, blissfully telling us that because indicators x and y are not negative, we're not in recession. Well, a kid in the sixth grade who reads newspapers or watches CNBC or FNN could tell you that the indicators have been "cooked" to the point that we could be in a full-blown Depression and today's indicators wouldn't even have us in Recession yet.
Well, we're in a Recession. How do I know, the one who freely admits to almost flunking bonehead Econ in college?
Warren Buffet says so. In case you don't know him or just got in from Planet Zargon, Warren Buffet is the country's richest man, and got that way by astute investment.
Mr. Buffet says we're in a Recession, so we're in a Recession.