[gridlock]

Where are all those shills from 1991 who blathered on endlessly that it was not an “official” recession until you had two consecutive quarters of negative growth in the GDP?

[gridlock]

Sorry, I meant from 1999

[mad_as_he$$]

I believe that in less than five years the definition of a recession will once again be changed. By many indicators we have been in one since early October. I think it was masked by Christmas and the way the numbers are calculated. The bedrock change in the import/export model has also masked the real problems. There is real pain already in some regions.