As one of my friends would say, if it looks like a duck, sounds like a duck and walks like a duck, it’s a duck. So while the US may not want to use the “R” word, one of the world’s largest investment banks falling to its knees begging for mercy has to count as a clue.
The sad thing is, people seem to be caught up on semantics. Investors in Bear Stearns, people visiting Hawaii or any of the 80,000 people that lost their jobs in March alone (the highest monthly fall in the US for 5 years) must surely be amazed that there are still question marks over whether the US is in a recession.
I wouldn’t like to even start to consider the number of hours that Fox, CNN and others have spent debating this point, or for that matter, what it will take for it to be finally recognized for what it is. A recession isn’t the end of the world and may actually shake the US out of its daydream, but for that to happen, the focus has to shift from labeling the problems to solving them.



