Recession: It's Official Now

. Tuesday, October 14

Former Federal Reserve Chief Paul Volcker declared today that the economy is, in fact, in recession. With a long career in the financial sector, Volcker is now chairman of the Group of 30 (which sounds to me like another one of those behind-the-scenes think tanks that actually pull the strings to what's happening around the world). "I have been around for a while. I have seen a lot of crises but I have never seen anything quite like this one," Volcker said. "This crisis is an exception. I don't think we can escape damage to the real economy." He said he doubts we'll see any inflation while the country is in recession.

2 comments:

The Hawg said...

That's actually pretty funny -- I do believe we've been in a recession since at least the first of the year. Take a look at the job markets here in Arkansas and anywhere else, for example.

Theresa Komor said...

Oh, I know! But, now it's O-fficial. Sounds to me like these guys are asleep at the wheel.