During the entire year of 2007, we kept hearing predictions that 2008 would be a year of recession. Well dear hearts and gentle people, it’s here.
Yesterday I heard on the news that Alan Greenspan had declared we are in a recession. That’s not idle chatter or hearsay. He is a very smart economist. If he says it, in my opinion, that confirms it.
Now predictions are surfacing that in 2009 we will be in a depression. Having lived through the Great Depression, I can report first hand, that’s when the rubber really does hit the road.