We're not in a recession....yet

Lets debunk a myth. A recession is 2 consecutive quarters of a shrinking economy. Guess what -- the economy just grew 0.6% this past quarter. So, all this scary rhetoric from CNN et al is bogus. Just because the stock market is flat or down, it does not mean the economy is in a recession. In fact, a stock market is simply a place to raise capital. It is only one piece of a vast economy, albeit an important piece.

So what does being in a recession really mean to us...?

Nothing. Unless you're an MBA looking for a finance job.

PS - intrade has the probability of a recession down to 30%. http://www.intrade.com/partners.jsp?ZID=1375&AID=1&CID=2&page=trade&selConID=508654