Wednesday, January 9, 2008

Is it recess or not?

The U.S. economy is in a recession, a Merrill Lynch & Co. Inc. economist wrote in a research note to clients this morning.

The cloud of uncertainty hanging over the economy and the financial markets is a manageable challenge in 2008, according to the findings from an InvestmentNews survey of advisers.

"A recession is when your neighbor loses his job.

A depression is when you lose your job."

1 comment:

Number 1 said...

The picture looks a little like me when I was little!