The bad news is, the recession started last December, according to
the National Bureau of Economic Research. The good news is, the
recession started last December. Given that the NBER historically
proclaims a recession toward the end of an economic downturn, there is
a chance that things may in fact get better in 2009. After 12 months of
contraction, it remains remarkable that unemployment is only at 6.5%,
which is relatively low when compared to prior recessions. Sadly, the
credit crisis may have exacerbated the recession -- or at least the
perception about the recession. After all, with unemployment so low,
the recession could end up being far milder than the media has
portrayed it. - Matthew Wurtzel
For more "Signs of the Apocalypse" see:
Corporate Dealmaker: Uh-oh. China growth projections plunge
Dealscape: Have investors started betting against America?
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