no, no, no, no and no

it's NOT a recession. king george said so! so, how CAN it be? 'splain THAT to me lucy (i went grocery shopping yesterday after work. it wasn't pretty. tomatoes, tofu, eggplant, mushrooms, soy yogurt, soy cheese, whole grain bread, apples, oranges, pears, raisins, dates, soy milk-2 one for home, one for work, grapes, red peppers. i'm not EVEN going to tell you how much it cost me.
i almost cried out)


It Might Be a Recession, Fed Chief Tells Congress Bernanke, Using a Word Rarely Uttered by Top Officials, Lays Out a Litany of Economic Problems
By Neil Irwin and Renae Merle Washington Post Staff Writers

Federal Reserve Chairman Ben S. Bernanke acknowledged yesterday for the first time that the United States may be in a recession, projecting that the economy could shrink during the first half of this year. "It now appears likely that real gross domestic product will not grow much, if at all, over the first half of 2008 and may contract slightly," Bernanke told the congressional Joint Economic Committee. In response to a question, he said "a recession is possible" -- a rare use of the word "recession" by a Fed chairman. Fed leaders traditionally worry about giving markets a reason for pessimism. Bernanke's comments marked a notable shift in tone, reflecting continuing soft economic data and a view that the breakdown in financial markets poses a rising threat to the overall economy. Just over a month ago, Bernanke said he expected "sluggish economic activity" but did not mention a possible contraction. .........