“Recession Over By Q3 ’09?”
Financial headlines today were highlighting a group of economists whose consensus forecast is that the recession will be over by the end of September.
This is astonishing to even entertain, considering the same people forecast a soft landing in 2007 and early 2008, then finally officially declared the US was in recession in November of last year. This awakening after a full year of pain and suffering, 30-60% declines in most American’s retirement accounts and net worths, and the most voracious declines in stocks, real estate, and commodities in 70+ years. Continue reading