Sunday, December 16, 2007

Stop Spending & Give It Back

The exspurts speak.

Former Federal Reserve Chairman Alan Greenspan said the risk of a U.S. recession is increasing.

THE chairman of the investment bank Morgan Stanley's Asian arm, Stephen Roach, had declared the US economy is headed towards recession and the rest of the world should be worried about the consequences.

The risk of a U.S. recession is rising, and the Federal Reserve should do something about it, according to economists in the latest survey.

The U.S. economy runs an "elevated risk" of falling into recession, but a period of sluggish growth is the most likely scenario amid the fallout from the subprime mortgage crisis and other factors, the head of the Congressional Budget Office warned on Wednesday.

------ Merriam on-line defines recession:

1. A period of reduced economic activity.
2. The act of ceding back to a former possessor.

Yessiree Bubba, the sheople are gonna have to reduce their spending activity and cede/transfer a lot of wealth back to former possessors (ruling class).

Say what Bubba? You think you've been in a recession most all your life?

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