Well, the 'R' Word (recession) can now be officially used to describe the US economy since the National Bureau of Economic Research (NBER) declared that we have been in a recession since December of 2007. Considering the back-dated nature of NBER's announcement, we find ourselves in the midst of the third longest recession since the Great Depression, with no end yet in sight. No wonder the Treasury and Fed are pulling out all of the stops to bail out the economy. This week, I'm going to discuss the current bleak economic picture, the Fed's latest bailout and the possible long-term consequences of the Fed's printing money....
Filed under: Gary D. Halbert, The Fed, GDP, Subprime, Recession, Consumer Confidence, Ben Bernanke, Deficit, Depression, Stratfor, Bailout, Economy, Henry Paulson, Deflation