No Recession

[Turbineguy]

this according to Jim Nussle, OMB Director.

This would be the same Jim Nussle who fought Bill Clinton on attacking Osama bin Laden.

[Clark2008]

1. No recession for very rich people, sure.

But the middle class beg to differ.

[StrongBad]

2. It's 50/50 at this point that a recession will happen

I don't know how anyone who doesn't have the ability to predict the future can make such a claim. It all depends on incoming data which leads me to suspect this guy is just a GOP cheerleader.

[haele]

3. 50% recession/50% depression?

Depending on your "class in life" or where you live, you're in a recession already. It's just a matter of expanding the economic situation of many cities (especially midwest/factory cities)nation wide.

Haele

[StrongBad]

5. Definitely true

I don't doubt that people are already suffering bad right now. I'm just going by the "official" definition of a recession, which is consecutive quarters of negative growth.

Not a great nor illuminating definition but it's the best way to go about it statistically.

[TomClash]

4. He's a bit late - we're already in one

Everyone on the Street knows they are manipulating the numbers and a mild recession started in late summer.