The US has been in recession for a year!

The evidence of a downturn has been widespread for months: slower production, stagnant wages and hundreds of thousands of lost jobs. But the National Bureau of Economic Research, which is charged with making the call for the history books, waited until now to weigh in.

In a statement released Monday, the members of the group's Business Cycle Dating Committee - made up of seven prominent economists, most from the academia - said the economy entered a recession in December 2007, when economic activity peaked.

www.iht.com...

And we thought the trouble started only last September. Oil wasn't even at $145 at the end of last year. The world is surely in for a bumpy year in 2009 and beyond.

www.iht.com...

This is exactly the point that Id tried to make back in the late summer when the "Official" statement was still selling the goldilocks economic story of being "Fundamentally Strong".

And all those ATS'rs that said, "We're not in a recession."
I'd say we're probably in a DEPRESSION now, but we wont find that out 'til NEXT Christmas!
We're all a bunch of damn suckers. The PTB just wanted to debase the economy further before any of US found out and beat them at their own game via shorting, etc.
The end is nigh. Hold on!