I just got my monthly update from the Bureau of Economic Analysis on the GDP. Apparently, growth is still positive (0.9%). This means that we still are technically not in a recession, and my guess is that we won’t be, barring some unknown shock. The worst of the housing crisis is over, despite the Case-Shiller housing index indicating still-falling home prices. Although these prices are still falling, this is a long overdue correction. Home prices are falling slower now, which indicates a near-bottom. If housing prices at this point haven’t caused negative growth, I’m not sure what will. With the world as global as it is, one must ask: is this piddly growth the new recession? Continue reading
