There is so much talk about the recession. Don't get me wrong, I know gas prices and food costs are higher. The housing market is also hurting. However, I know my business had a record year last year and I have already made more profits this year than last. Other business owners I know are saying the same things. Also my stock portfolio has a return of 20% so far this year. Is the economy overall, really that bad? Maybe we should leave things alone and trust things to turn around on their own.

I say a severe recession. It's apparent that we will not witness a depression, since the key characteristic of a depression is a sharp decline in prices. At this point, a sharp decline in prices would be welcome to most people.

I'm very pessimistic when it comes to the economy.

I feel we have been holding off the inevitable collapse of our economic structure for far too long and the time of total meltdown is looming.

The economy is growing, the recession is minor or maybe a myth

the economy can always be better.
but we're hardly heading into another great depression.
the people in power always say the economy is good.
and the people who want the power always say its bad.

plus im pretty sure there was something like .6% growth last quarter.
small growth to be sure,
but any growth means no recession.

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If we do go into a recession, it won't be until October, and that's if we have negative numbers in the second quarter. And if there isn't negative growth, the nearest recession wouldn't until be until January 2009. By then, we'll have a new President, and that may effect the economy in a postive way.

Still growin'

http://www.bea.gov/newsreleases/nati...ewsrelease.htm

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"It is extremely difficult for our contemporaries to conceive of the conditions of free banking because they take government interference with banking for granted and as necessary"

-- Ludwig von Mises