You Heard It Here

If you note since August I've been telling people we're heavily entering a recession and the challenge is by the time economists get it - its too late. Bernanke finally got it after nearly crashing worldwide markets. Duh. Now the truth is coming home and dont forget I told you so.

http://biz.yahoo.com/ap/080228/economy.html?.v=9

"Economy Slowed to Near Crawl, Minuscule 0.6 Percent Growth Rate in 4th Quarter"
"The reading -- unchanged from an initial estimate a month ago -- underscored just how much momentum the economy has lost. In the prior quarter, the economy clocked in at a brisk 4.9 percent pace."

"The National Association for Business Economics expects economic growth in the current January-to-March quarter to slow to a meager 0.4 percent pace. Some analysts believe the economy's performance could be even worse and actually shrink during this period. Under one rough rule, the economy would have to contract for six months in a row for the country to be viewed as in a recession."

While its a painful blow - hopefully we can get the credit markets going with low rates and get the economy moving again.