Excerp from Interesting article on yahoo home page
The positive take, if you can call it that, is that we're in a "rolling recession," as Kurt Karl, chief U.S. economist at insurer Swiss Re, said in a note to clients. "First the housing market tanked, then consumer spending plummeted, now business investment is nose-diving." Hey, at least it didn't all happen at once! Peter Morici, an economist at the University of Maryland's Smith School of Business, offered a gloomy scenario: "Lacking confidence that the demand for what Americans make and sell will recover significantly anytime soon, businesses are girding for a long siege - slashing employment and dividends and hunkering down," he wrote in an e-mail. "They are preparing for a depression and the eclipse of American leadership."
Just adds to my thoughts that this mess is very far from over. What we are enjoying is temporary and partly as a result of extreemly pent up demand to be exited or enthusiastic about anything it can hang on to. Enjoy the ride. Stay on te right side of it, I didn't,,,,,,,,Duh,,,
