Those who desire to give up freedom in order to gain security will not have, nor do they deserve, either one.

- Thomas Jefferson

The Cleansing

Recession is not a bad thing, it is simply a correction of market inequities. That being said, how big the fear of recession:

Recession risks have increased amid weakness in housing and financial markets but "real America" is still doing just fine, a top White House economic adviser said on Tuesday.

"Obviously, the chances of a recession are higher now than they were a year ago, but we still think it's less than 50:50," Allan Hubbard, economic advisor to President George W. Bush, told CNBC television during an interview.
[Read]

Amusing bit of verbiage: the odds have increased but still less than 50:50. The odds can increase daily but until the whole world knows we are in a recession, the politicians will say it isn't so. The odds will be less than 50:50 until it is 100%.

posted at 16:39:43 on 11/27/07 by clearpolitics - Category: Economics - [Permalink]

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