Warren Buffett: We are essentially in a recession. HERE.
George Bush: The economy is in a slowdown, but not headed toward a recession. HERE.
Kim Stagliano: I'm thinking a depression is on its way. Gas costs $3.30 a gallon. Heating fuel? Fuggedboudit. Jobs? Did you see 60 Minutes last night. Did you see the man who had worked for a paper factory for 27 years, as had his Dad for 41 years? He is losing his job and his wife has MS. They're fucked. No pretty way to put it. Need to take a new job? You can't go if you can't sell your house (thank God we rent, that's a huge plus right now.) Need to retire to a small condo to save money on the big house where you raised your kids? You're SOL - I see it all over my town. My well to do, whitebread town. Houses listed as "Short Sale" and "Lis Pendens" and "Foreclosing." Did you get a raise last year? My husband didn't. Did you work more hours? My husband worked 60 - 70 hours per week. Sat - Sun included. 9 - 5 no longer exists.
Many years ago I lost a co-worker to skin cancer. Dave was 43 and had three kids. He'd been laid of by British Petroleum, lost his health insurance and then his life. He couldn't afford treatment. We were in the backyard of the Cleveland Clinic and many other world class hospitals. This is STILL going on today - only there are thousands more Daves.
The USA needs a change. A very big change. I believe Warren Buffett. I do not believe George W. Bush. How about you? Do you feel safe and secure and ready to face your future without constant worry? If so, bottle that feeling. It will sell like hotcakes.