Oh, you have got to looooooovvvve this. The headlines tell the story pretty well:
"New GDP Numbers Strongest Signal Yet The Country Has 'Hurtled Into Recession'"
No shit, Sherlock. However, some of us aren't really affected by that, to wit:
"Exxon Mobil Profits Set a Record in Third Quarter"
"Shell announces huge rise in profits"
"AIG Already Running Through Government Loans"
And so on...
The recession article makes this interesting point:
"Americans stopped buying everything from cars to corn flakes in the July-September quarter, ratcheting back spending by the largest amount in 28 years and jolting the national economy into what could be the most painful recession in decades."
So spending dropped more than it has in 28 years yet ExxonMobil continues to make record profits. Why is that, one might ask? Well, simple--they charged us more for the gas.
Why are they suddenly charging us less? I have a relative who is a man of wisdom on many topics, and he had this to say about falling gas prices: "It's curious that the demand for gasoline would drop off so suddenly." You know, because as we all were conditioned to believe from grade school, prices are naturally a product of the magic of supply and demand.
Oh brother...what poppycock. The reason gas prices are low is because it's right before an election--it's rigged.
It's interesting that there has been a debate for some time now about whether or not we are in a recession. More specifically, there's been some discussion about whether or not the government will officially declare that we have been or currently are in a recession.
My hunch is that there won't be official government confirmation that we are or have been in a recession until after the election or even after the inauguration. That way, those at the top can decide which president it's best to put the blame on for the recession: Bush or Obama/McCain.