A few short articles from Reuters this morning touch upon the current health of the economy, and it's not great news.
- Buffett sees "long, deep" U.S. recession
BERLIN (Reuters) - The United States is already in a recession and it will be longer as well as deeper than many people expect, U.S. investor Warren Buffett said in an interview published in German magazine Der Spiegel on Saturday.
Buffet said that the US may not be in a recession according to the default definition of two consecutive quarters of negative growth, but the people are already feeling the effects.
Side Note: Given this White House's propensity for changing the facts to fit the policy (and propaganda), it would be interesting to see what the ~actual~ growth and performance indicators are before saying we don't yet meet the formal definition of a recession.
- Tax rebate won't stem U.S. recession: Merrill
SINGAPORE (Reuters) - The U.S. economy is in a recession and stimulus from a government tax rebate later this quarter will only temporarily stem a fall in consumer spending, a Merrill Lynch economist said on Wednesday.
- Tech execs plan for economic troubles
NEW YORK (Reuters) - Technology executives around the world are preparing for economic troubles to deepen.
Many hope that their products will prove indispensable for customers and see emerging economies as sure-growth markets.
But low- and middle-income U.S. consumers are struggling, and the relative strength of U.S. corporations may not last, executives said at the Reuters Global Technology, Media and Telecoms Summit in Tokyo, Paris and New York this week.
The news isn't as cheery as some would like.
This is an Open Thread.