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Two weeks into the beginning of the new year - January 14th, 2008 - I announced the official beginning of the recession.  It now appears that folks in suits and bowties who are supposed to know more about this stuff than me are finally beginning to realize the recession is NOT coming in the future - we are IN IT NOW!

An exerpt from  an article on Mid-Atlantic region factory output:

The Philadelphia Federal Reserve Bank said its business activity index slumped unexpectedly hard to -37.5 in October from 3.8 in September. That was its lowest since October 1990.

“The data, put simply, were horrendous coming out of the Philadelphia Fed region today,” said Dana Saporta, economist at Dresdner Kleinwort in New York.

“This reading is consistent with the recession we are in and probably have probably been in for a while.”

There you have it!

..and yes, I am still drinking coffee made from beans bought at Savemart.

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