05-05-2008, 01:38 PM
Yes we are in a recession. I'll take Warren Buffett's word for it.
"In a series of exclusive live appearances on CNBC's Squawk Box this morning, Warren Buffett told us that by a "common sense definition", the U.S. economy is already in a recession, even if it hasn't met the technical definition of two consecutive quarters of negative growth."
http://www.cnbc.com/id/23446988/