If This Is Not A Recession.....What Do You Call It?

I thought I was taught if it there are two consecutive quarters of no growth, (GDP, GNP whatever it is lol) it should be considered to be a recession. That's was my understanding. I am telling my age but I do remember the recession of the 1990's but this one seems to be more intense....

Everything is sky high: from gas, eggs, milk, cheese to the terrible housing bust, the economy is awash across the board. I respect Congress' attempts to revive the economy with these economic stimilus checks but most consumers will strive to be savvy and probably try to save the money. We don't know how long we are going to be in this funk, but I have heard that Wal-Mart stores will be cashing checks for cusotmers at no charge, making it easier for consumers to spend, spend, spend! What are you going to do with your check?

If this isn't recession, what would you like to call it. Increased crime, along with the morale of the country is really at the nadir. Being that we are in the information age, this crisis will be easy to keep up...stay tuned!!

http://money.cnn.com/