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Friday, June 01, 2012

Economy Goes Over the Cliff and Into Recession

Today's Employment Report from the government confirmed what we've been expecting to happen: the economy has dropped into recession once again. All the warning signs have been there that this would happen and now that it's here, will the Fed finally wake up and smell the coffee?

That's the real question. The government is in no position to counteract the recession, so the private central bank is the last hope that this recession won't turn into another Great Depression. Europe has been in recession for almost a year, China is falling into a growth recession and there's really no part of the world that isn't seeing declining economic activity.

With the stock market down more than 200 points this morning, will the Fed continue to sit on their hands?