The effects of this downturn are unfortunately additive, not the winding up of a spring that will bounce forward later this year.

These things will work into a self-reinforcing spiral.

It's a good time to get out of debt while you can.

How can things possibly turn around?

Because "they always do?"

How the economy comes back depends on how you want to measure it. If taxpayers bailing out businesses and financial instutuions is cause for improvement or whether government wants to do anything to help the consumers. While business operate above the law and cheat and rob the consumers is not good government. Where is government leadership? The only thing happening in the economy is non exixtent money is getting passed around from one company to another company to show improvement. The subprime home market is not getting any help for the home buyers, its all going to business to bail them out. The home buyer is still stuck with the illegal loan the lenders forced on them. The consumer has got wind of the pitfalls of excessive credit and debt so should the business world. Consumers are not going to keep up and maintain their current level of spending themselves in to debt they can't recover from so all these short term bail outs are doomed to failure again. Even in the long term. They need to get the illegals to spend their money here instead of sending it to WalMart banks back in mexico where it can't be traced.

I read two newspapers daily: Deseret News and the Wall Street Jounal. Both papers had a choice of how to lead today's paper with remarks by Fed Chairman Bernake. Bernake did not say we are in a recession. He talked about slowing economy but not recession. The Wall Street Journal choose objestive reporting. Unfortunately the D-News choose to spin his comments in the most negative light. Utah has one of the best economies in the country right now. This helps all of the citizens. But to have the leading newspaper in the State distorting important remarks soley for the purpose of a sensationalist headline is irresponsable. Our economy partly depends on a positive feeling of confidence by consumers. It certainly doesn't need negative spin. It needs objectivity and honesty. Half-truths and distortions are hallmarks of tabloids. not newspapers. Does the D-News want to be like the Salt Lake Tabloid, er, excuse me, Tribune or the Wall Steet Journal? Despised or trusted? Their editors can choose.

It's an end of an era in America.
The only way to make the big $$$ is defense contracts, jail construction, war, 1,000 mile-long fences on borders.

The words of Bernanke: "Recession is possible." The words in the DNews: "The U.S. economy may be in recession." The article was not written by a DNews staffer, but rather a reporter from McClatchy Newspapers. How is either of those statements a negative "spin" on the news, Charles? In technical terms, a recession is defined as 6 months of negative growth. Who's to say we're not at the beginning of the recession? We're certainly not at the beginning of a growth period, right? What's irresponsible is to parrot the word of government officials who lost their credibility years ago.

LOLOLOLOLOL!!!!!!

"not in a recession"

LOLOLOLOLOLOL!!!!!

Actually I doubt that Bernanke really knows what is going to happen next month let alone six months from now. It seems that his predictions are nothing more than guesses or the financial community wouldn't be in this mess.

I didn't vote for Bush and Cheney.

Conservatives get what they deserve.

A good rule of thumb is that things are never as good as a Realtor or stockbroker says they are, and never as bad as a wild-eyed radical (who has been predicting the End of the American Empire, not to mention the Oppressive Capitalist System and The World As We Know It, every year since about 1848) says they are.

By the official definition of a recession -- two consecutive quarters of negative economic growth -- a recession has not yet been registered. However, pretty much anybody who's been paying attention recognizes that one will be before long. The only question is how long and how deep in runs.

Charles,

The Wall Street Journal can spin with the best of them. I make my own decisions based on all the info I can obtain. One of the biggest con jobs in history is taking place right now.

Thomas -

Why not give that speech to the La-Z-Boy people who just got the axe and don't know what they are going to do next.

I'm not the most fiscally conservative person in the world. But, I believe the price of products are too high, and I don't plan on purchasing anything major over the next 6 months. Recession!! My willingness to spend has stagnated! I'm glad it's summer, I need to find a way to reduce my petrol consumption. My government stimulation check is going into savings. And this economy has been in the making LONG before Bush became president! Raise my taxes so I spend less. You go Democrats!

Anon --

So are you saying any time a factory closes down, we have to declare a recession?

By that logic, every single quarter is recessionary.

Thomas,

What is it with the folks who are hung up on the technical definition of a recession?

With your approval, perhaps we can pick another word or phrase to focus on.

Downturn
Bad Economy
Underwater on my house
Can't sell my house
Eggs, Meat, Wheat, Gas thru the roof
I got walked out of my building today
Layoffs
Job Cuts
Dollar losing value
Systemic Risk

If I get fired, can I pull the "But We Aren't TECHNICALLY in a recession" monopoly card out of my wallet, and keep my job?